EIB and Iberdrola sign two loans totalling €108 million for investments in energy storage infrastructure in Extremadura
Spain, April 14 -- The European Investment Bank (EIB) has signed two green loans with Iberdrola totalling €108 million - a €50 million loan using own funds and a €58 million loan with funds from the Regional Resilience Fund (FRA). The operation aims to improve the pumping capacity of the Valdecanas hydroelectric complex, which encompasses the Torrejon and the Valdecanas power plants.The complex will help to secure energy supply and create storage capacity enabling the integration and management of renewable energy. The Valdecanas plant will have a total installed capacity of 225 MW, a 15 MW hybrid battery and 7.5 MWh of stored energy.Together, the battery and hydroelectric units will make it possible to increase the added ...
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