France, June 16 -- The European Investment Bank (EIB) is pledging €1.6 billion to finance the construction of the Bay of Biscay electricity interconnection between Spain and France. The EIB financing for the Bay of Biscay project takes the form of loans to Spanish and French transmission-system operators Red Electrica and RTE Reseau de transport d'electricite.The parties signed first loan tranches totalling €1.2 billion today at the EIB headquarters in Luxembourg. The event was attended by Nadia Calvino, president of the EIB Group, Dan Jorgensen, European Commissioner for Energy and Housing, Marc Ferracci, French minister of Industry and Energy, Miguel Gonzalez Suela, Spanish deputy secretary of State - for Ecological Transition...