The European Investment Bank and Iberdrola have agreed to increase the green loan signed in 2021 to support the development, modernisation and digitisation of the company's electricity distribution networks, a project with an impact on twelve Spanish regions. The EUR 220 million top-up signed brings the total EIB financing to around EUR 820 million, allocated to strengthen smart grids in Spain and contribute to the further electrification of the economy. The project linked to the loan will improve the efficiency of the distribution network, characterised by automation and control.With this loan, Iberdrola will boost recovery of the Spanish economy and employment by safeguarding around 10,000 jobs a year in Spain during the implementation period, according to the EIB's estimates.
The European Investment Bank and Iberdrola have agreed to increase the green loan signed in 2021 to support the development, modernisation and digitisation of the company's electricity distribution networks, a project with an impact on twelve Spanish regions. The EUR 220 million top-up signed brings the total EIB financing to around EUR 820 million, allocated to strengthen smart grids in Spain and contribute to the further electrification of the economy. The project linked to the loan will improve the efficiency of the distribution network, characterised by automation and control.With this loan, Iberdrola will boost recovery of the Spanish economy and employment by safeguarding around 10,000 jobs a year in Spain during the implementation period, according to the EIB's estimates.
