Connect with us

Hi, what are you looking for?

CleanTechnica
The European Investment Bank announced that it would commit €50 million in loans to finance 9 wind power projects developed by the Spanish firm Forestalia Renovables which will be built in the Aragón region of Spain. 

Clean Power

European Investment Bank Commits €50 Million To Build 9 Spanish Wind Farms With 300 Megawatts Of Capacity

The European Investment Bank announced that it would commit €50 million in loans to finance 9 wind power projects developed by the Spanish firm Forestalia Renovables which will be built in the Aragón region of Spain. 

The European Investment Bank announced on Thursday that it would commit €50 million in loans to finance 9 wind power projects developed by the Spanish firm Forestalia Renovables which will be built in the Aragón region of Spain.

With support from the Investment Plan for Europe, the European Investment Bank (EIB) signed a €50 million to finance the Goya project, which is a collection of 9 onshore wind farms to be built in the region of Aragón, located the northeast of Spain. Spanish firm Forestalia Renovables will develop the Goya project, which is backed by shareholders Mirova, a subsidiary of Natixis dedicated to responsible investment, General Electric, Engie, and Forestalia itself, which together signed an agreement earlier this week.

Forestalia Renovables was awarded the contract to build the Goya project as part of Spain’s first clean energy auction back in early 2016, and it will be the first wind power concession to be awarded without public subsidies or incentives.

The Goya project will build 9 new wind farms — Argovento, Cañacoloma, El Saso, Sierra Luna, and Las Majas I, II, III, IV, and V — in Aragón, which will consist of 82 GE Renewable Energy wind turbines with a total capacity of 300 megawatts (MW) and a power generation capacity of 900 gigawatts-hours each year. Together with the €50 million loan committed by the EIB, investment for the project includes €120 million provided by a syndicate of commercial banks.

“The European Commission welcomes the financing of these nine wind farms in Aragón,” said Miguel Arias Cañetem, EU Commissioner for Climate Action and Energy. “Europe will always endeavour to support projects that invest in the transition to clean energy and job creation. Investing in renewables means investing in quality jobs. Spain has the potential to be the benchmark for renewable energies and sustainable long-term job creation. These projects provide an example of this potential and they will certainly not be the last.”

 
Sign up for daily news updates from CleanTechnica on email. Or follow us on Google News!
 

Have a tip for CleanTechnica, want to advertise, or want to suggest a guest for our CleanTech Talk podcast? Contact us here.

Electrifying Industrial Heat for Steel, Cement, & More


I don't like paywalls. You don't like paywalls. Who likes paywalls? Here at CleanTechnica, we implemented a limited paywall for a while, but it always felt wrong — and it was always tough to decide what we should put behind there. In theory, your most exclusive and best content goes behind a paywall. But then fewer people read it! We just don't like paywalls, and so we've decided to ditch ours. Unfortunately, the media business is still a tough, cut-throat business with tiny margins. It's a never-ending Olympic challenge to stay above water or even perhaps — gasp — grow. So ...
If you like what we do and want to support us, please chip in a bit monthly via PayPal or Patreon to help our team do what we do! Thank you!
Written By

I'm a Christian, a nerd, a geek, and I believe that we're pretty quickly directing planet-Earth into hell in a handbasket! I also write for Fantasy Book Review (.co.uk), and can be found writing articles for a variety of other sites. Check me out at about.me for more.

Comments

You May Also Like

Cars

BYD sold over 1.8 million electric vehicles (EVs) last year. As announced recently, BYD has a target of selling 3.6 million EVs this year....

Aviation

If a firm is adding hyped complexity, they are aiming at credulous wallets, not deliverable solutions.

Batteries

Last year, Volkswagen started a new battery production company that would operate under the VW umbrella: PowerCo. Now, in March 2023, several announcements by...

Cars

Ford says it plans to bring the heat in its battle for EV dominance with Tesla while Cupra is said to be eyeing the...

Copyright © 2023 CleanTechnica. The content produced by this site is for entertainment purposes only. Opinions and comments published on this site may not be sanctioned by and do not necessarily represent the views of CleanTechnica, its owners, sponsors, affiliates, or subsidiaries.

Advertisement