Spanish Ministry of Economy, EIB and Endesa agree €650 million in financing to strengthen and digitalise Spain's electricity networks
Spain, Sept. 30 -- The European Investment Bank (EIB) and Endesa have signed two loans totalling €650 million to support the electricity company's investments in strengthening, modernising and digitalising Spain's electricity grid. The financing is expected to boost investments in six autonomous communities, fostering the expansion and resilience of the distribution network, enhancing the security of supply, and promoting the integration of renewable energy sources.The Ministry of Economy, Trade and Business will channel Next Generation EU funds from the Spanish Recovery Plan through the Autonomous Resilience Fund (FRA) to finance a €500 million loan to Endesa. The EIB is financing a second loan worth €150 million to Endes...
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