Enel Group
Date: 2022-04-11
Rome-headquartered Enel S.p.A., multinational manufacturer and distributor of electricity and gas, reports it has secured a €600 million facility from the European Investment Bank (EIB) backed by a guarantee from Italian financial insurance company Sace for green investments in Latin America.

Of the total, &euro:119 million ($130 million) is earmarked 300 MW of wind and solar projects in Latin America. The remaining funds are to support Enel's renewable energy generation and power distribution projects in Brazil and Colombia which are expected to generate around 2307 GWh of clean energy each year, equivalent to the annual consumption of 1.32 million households. The facility is subject to Enel achieving its target for direct greenhouse gas emissions (scope one), measured in grams of CO2eq/kWh, equal to or below 148 gCO2eq/kWh by 2023. (Source: Enel, PR April, 2022) Contact: Enel Group, Salvatore Bernabei, CEO, www.enelgreenpower.com, www.enel.com

More Low-Carbon Energy News Enel Group. Renewable,  EIB Energy,  Green Energy,  

Iberdrola, European Investment Bank
Date: 2022-04-06
Madrid-headquartered Spanish multinational utility Iberdrola SA reports it has secured € 88 million in loan funding from the European Investment Bank (EIB), Instituto de Credito Oficial (ICO) to develop a 100MW solar, 20MWh battery and 1000 tpy green hydrogen electrolyser facility in Puertollano, Castilla-La Mancha, Spain. When fully operational, the project will be one of the largest plants of its kind in Europe.

EIB is lending €53 million and ICO €35 million, both loans being certified as green financing. (Source: Iberdrola, Website PR, 5 April, 2022) Contact: Iberdrola, www.iberdrola.com

More Low-Carbon Energy News European Investment Bank ,  Iberdrola,  Solar,  Solar+Storage,  Green Hydrogen,  

European Investment Bank
Date: 2022-03-28
The European Investment Bank (EIB) reports it will invest €35 million in a new Anaerobic Digestion facility to be constructed in the Italian municipality of Pescara as part of the municipality's 2021-2025 climate strategy plan aimed at promoting the circular economy, energy efficiency and solid waste management.

EIB funds will be used to renovate existing waste sorting facilities, finance the purchase of environmentally-friendly transport such as electric, hybrid or biomethane vehicles, improve energy efficiency in 55 public buildings. and develop a 50,000 tpy AD system to produce 4 million m3 per year of biomethane. (Source: European Investment Bank, PR, Mar., 2022) Contact: European Investment Bank, www.eib.org

More Low-Carbon Energy News European Investment Bank,  

Solas Capital
Date: 2022-02-25
Zurich-headquartered Solas Sustainable Energy Fund I CAV (SSEF), a fund advised by Solas Capital AG, reports closing on €140 million, including a € 30 million commitment by the European Investment Bank (EIB).

The fund, which is aiming for €200 million, will provide debt financing to energy service companies to carry out energy efficiency and small renewable energy projects, mainly in the European Union. (Source: Solas Capital AG, PR, 25 Feb., 2022) Contact: Solas Capital AG, www.solas.capital; EIB, www.eib.org

More Low-Carbon Energy News Energy Efficiency,  EIB,  

Date: 2021-12-02
London-headquartered fund manager Glennmont Partners is reporting acquisition of 100 pct of the share capital of the Sirocco Winco 2 wind farm portfolio in Spain from Sirocco Power, a special purpose vehicle incorporated by Saudi Arabia-based Alfanar Group.

The Sirocco Winco 2 portfolio of onshore wind projects in Albacete and Andalucia, has a combined capacity of 98.7MW. All assets have been acquired at commercial operation date and are all in operation.

The projects have 10.5 year power purchase agreements with Engie and debt financing in place with Banco De Sabadell, the European Investment Bank and Abanca Corporacion Bancaria. (Source: Glennmont Partners, Website, renews,biz, 30 Nov., 2021) Contact: Glennmont Partners, Joost Bergsma, CEO , www.glennmont.com

Orsted,European Investment Bank
Date: 2021-10-06
The European Investment Bank (EIB) has signed a EUR 500 million loan with Orsted to support its increased capex programme on renewable energy projects, and the conclusion of the Borssele 1 & 2 wind farms off the Dutch coast with a long-term commitment from the EIB.

The 752 MW Borssele 1 & 2 wind farms count 94 wind turbines which, through inter-array cabling, transfer their energy to an offshore substation before reaching the grid via a high-tension line which the EIB previously helped finance with TSO TenneT. (Source: Orsted, Website Release, 29 Sept., 2021) Contact: European Investment Bank, www.eib.org; Orsted Energy, Investor Relations, Allan Bodskov Andersen, +45 99 55 79 96, alban@orsted.dk, www.orsted.dk

More Low-Carbon Energy News European Investment Bank,  Orsted,  Wind,  

European Investment Bank
Date: 2021-06-07
The European Commission (EC) reports that along with the European Investment Bank (EIB) it is allocating funds for European Local Energy Assistance (ELENA) for the Primavera project -- a €2.48 million financing for Pamplona-based Nasuvinsa -- a manager of social housing and industrial land for purchase and-or rent -- to promote energy efficiency and renewable energy in existing residential buildings in Spain.

The funds will support Nasuvinsa's communication plan, technical studies, energy audits, feasibility studies for housing energy efficiency renovations.

The ELENA programme, targeting entities across Europe, provides financial support for actions aimed at achieving greater energy efficiency and the incorporation of renewable energies. With this support, the European Union is promoting investments especially in buildings, heating networks, public lighting and clean urban transport. (Source: European Commission, PR, 7 June, 2021) Contact: Nasuvinsa, www.nasuvinsa.es

More Low-Carbon Energy News European Investment Bank,  Energy Efficiency,  

European Investment Bank
Date: 2021-05-14
The European Investment Bank (EIB) has unveiled a new investment of €50 million ($60.675 million US) Portuguese homes. The move follows a partnership with the Union de Creditos Inmobiliarios, a joint venture between Banco Santander and the BNP Paribas Group.

The funding, which will support individual building energy efficiency upgrades, is expected to result in a total energy saving of 57.3GWh a year. Around 75 pct of buildings in Spain and Portugal currently have low energy efficiency and, more critically, almost 85-95 of them will still be in use by 2050, according to the EIB release. (Source:EIB, Website, PR, May, 2021) Contact: European Investment Bank, www.eib.org

More Low-Carbon Energy News European Investment Bank,  Energy Efficiency,  

European Investment Bank
Date: 2021-04-26
The European Investment Bank (EIB) last week reported approval of €3.4 billion ($4 billion) in new financing for climate action, including €2 billion ($2.418 billion) to support renewable energy projects in France and Germany, solar power in Spain and wind projects in Ireland. The financing will help improve energy distribution in Italy and covers a solar-plus-storage project that relies on both batteries and hydrogen.

The EU has also committed to cutting net greenhouse gas emissions by at least 55 pct by 2030 from 1990 levels and to be the first climate neutral continent by 2050. (Source: European Investment Bank, 23 Apr., 2021)Contact: European Investment Bank, www.eib.org

More Low-Carbon Energy News European Investment Bank,  Renewable Energy,  

European Investment Bank
Date: 2021-04-26
Last week, the European Investment Bank (EIB) announced approval of €3.4 billion ($4.08bn) in new financing for climate action, including €2 billion to support the development of renewable energy projects in France and Germany, the increase in solar power consumption by homeowners across Spain, and wind projects in Ireland. The financing will help improve energy distribution in Italy and covers a solar-plus-storage project that relies on both batteries and hydrogen.

The €3.4 billion package also includes €700 million for sustainable transport, €720 million for corporate research, innovation and business investment, and €837 million for urban investment, housing, education and communications.

The EU has committed to cutting net greenhouse gas emissions by at least 55 pct by 2030 from 1990 levels and the first climate neutral continent by 2050. (Source: European Invstment Bank, 23 Apr., 2021)Contact: European Investment Bank, www.eib.org ;

More Low-Carbon Energy News European Investment Bank,  Renewable Energy,  

European Investment Bank
Date: 2021-03-26
The European Investment Bank (EIB) reports granting a €350 million line of credit to a consortium made up of EDF Renewables, Enbridge and wpd to co-finance construction of a planned €2 billion wind farm 10 km off the coast of Courseulles-sur-Mer, France.

The project will incorporate 64 Siemens Gamesa wind turbines totaling 450 MW and is expected to enter service in 2024. (Source: EIB, PR, NA Windpower, 24 Mar., 2021) Contact: EIB, www.eib.org

More Low-Carbon Energy News European Investment Bank,  wpd,  Enbridge,  EDF Renewables,  Offshore wind,  

European Investment Bank
Date: 2020-11-06
The European Investment Bank (EIB) and Madrid-based GMP PROPERTY SOCIMI (Gmp), one of Spain's largest real estate groups, are set to finance green investments that reduce energy consumption and CO2 emissions in office buildings in Madrid.

To this end, the EU bank will provide the Spanish company with €28 million in financing for the development of near zero-energy buildings (NZEBs) and retrofits aimed at improving energy efficiency. The operation is supported by the European Fund for Strategic Investments (EFSI), the main pillar of the Investment Plan for Europe.

The primary energy savings covered by the EIB financing will be an estimated 3 420 MWh per year (MWh/year), implying CO2 emissions savings equivalent to the average emissions produced by 124 EU households a year.

The EU bank is assisting this operation via a green energy loan, the features of which are fully in line with the requirements set out in its Climate Awareness Bonds programme. As a result, it is likely to be allocated to its portfolio of loan operations financed via the issuance of these bonds. (Source: European Investment Bank, European Commission, PR, 5 Nov., 2020) Contact: European Investment Bank, www.eib.org

More Low-Carbon Energy News European Investment Bank,  Energy Efficiency,  

European Investment Bank
Date: 2020-09-28
Reporting from the capital city of Bratislava, Slovak Investment Holding (SIH) reports it has inked an agreement with the European Investment Bank (EIB) that will create conditions for the development of energy efficiency solutions across Slovakia. The treaty is funded by the"Delivery of local investment advisory services by National Promotional Banks" call for proposals.

The funding support will allow Slovak Investment Holding to enhance its support energy efficiency solutions and enable the hiring of additional personnel and experts that will play a key role in Slovakia's transition to greater energy efficiency and a low-carbon economy. This new agreement is additional to already established energy efficiency and "smart" city cooperation between SIH and the EIB.(Source: The Mayor EU, 28 Sept., 2020) Contact: European Investment Bank, www.eib.org; Slovak Investment Holding, office@sih.sk, www.sih.sk

More Low-Carbon Energy News European Investment Bank,  Energy Efficiency,  

Climate Change
Date: 2020-08-24
According to the 2019 Joint Report on Multilateral Development Banks' Climate Finance , in 2019 seven of the world's largest multilateral development banks (MDBs) provided $61.6 billion in climate financing, out of which $41.5 billion was offered to low-income and medium-income economies.

Of the total, $46.6 billion was used for climate mitigation and the remaining $14.9 billion was used to help countries build resilience in tackling the impact of global warming.

The seven banks include: African Development Bank (AfDB), Asian Development Bank (ADB), European Bank for Reconstruction and Development (EBRD), European Investment Bank (EIB), Inter-American Development Bank Group (IDB Group), World Bank Group (WBG) and the Islamic Development Bank (IsDB).

Download the 2019 Joint Report on Multilateral Development Banks' Climate Finance report HERE. (Source: African Development Bank, Mercom India, Aug., 2020) Contact: African Development Bank, www.afdb.org

More Low-Carbon Energy News Climate Change,  

European Investment Bank
Date: 2020-08-03
The European Investment Bank (EIB) is reporting it will provide &euro95 million to finance roughly 40 projects in Barcelona that aim to support climate change mitigation and adaptation in the city of 5.58 million residents.

In addition to strengthening the city's climate resilience, the funding will target approximately 20 projects within the city classified as "climate vulnerable." All new social infrastructure work will focus on zero-energy buildings, initiatives to improve energy efficiency, and reduce power consumption in public and municipal buildings.

Barcelona declared a climate emergency in January 2020 and the investments now being promoted are in line with the declaration's objectives. (Source: EIB, Eurasia Review, 3 Aug., 2020) Contact: EIB, www.eib.org

More Low-Carbon Energy News European Investment Bank,  Climate Change,  ,  

European Investment Bank
Date: 2020-07-08
"Investments in energy efficiency improvements are vital to ensure Europe's future as a sustainable, yet prosperous economy. Amid the COVID-19 crisis, however, there is a great risk of losing sight of the benefits of energy efficiency investments by European firms. The EIB Investment Survey (EIBIS) provides a unique source of data that highlights how more investment in energy efficiency is needed.

"This report examines the quality of firms' building stock, their spending on energy efficiency measures and the factors that influence their decisions regarding that investment. It highlights that both high-quality information and advanced management practices make a crucial difference in the likelihood of investment in energy efficiency. The regulatory framework needs to be supportive, yet also push for higher energy building performance standards, while financing conditions should facilitate timely investment by firms to realize the enormous gains that can be achieved through energy efficiency improvements."

Download the Who is Investing in Energy Efficiency and Why It Matters report HERE. (Source: European Investment Bank, July, 2020) Contact: EIB, www.eib.org

More Low-Carbon Energy News European Investment Bank news,  Energy Efficiency news,  

European Investment Bank
Date: 2020-05-13
The European Investment Bank (EIB) has approved an undisclosed sum to finance the development of the 30 MW Golfe du Lion offshore floating wind project, 16 km off the coast of the Leucate-Le Barcares area in the Mediterranean Sea. .

The demonstration project will incorporate three V164 MHI Vestas 10 MW wind turbines supported by Principle Power's WindFloat semi-submersible floating foundations. The project, which is being developed by Eoliennes Flottantes du Golfe du Lion (EFGL), a consortium comprising Engie, EDP Renewables, and Caisse des Depots, is expected to be commissioned in 2022. The commissioning of the wind farm is scheduled for 2022 (Source: EIB, offshore wind biz, 12 May, 2020) (Contact: Eoliennes Flottantes du Golfe du Lion, www.info-efgl.fr; EIB, www.eib.org

More Low-Carbon Energy News Floating Wind,  Offshore Wind,  European Investment Bank,  

European Investment Bank
Date: 2020-02-14
The European Investment Bank (EIB) is reporting a €12 million loan to Slovenian energy efficiency and energy management solutions provider Resalta.

The loan funds will be used to accelerate commercialisation of the company's services and enhance its positive environmental impact in South-Eastern Europe and the Western Balkans. Part of the EIB loan will be used for digitalisation and development of new energy management systems such as supervising functions, technical intelligence, smart meters and sub-meters controls etc. The remaining funds will be invested in new services and IT technologies crucial for the improvement of energy performance of buildings. (Source: EIB, European Commission Europa, PR, 13 Fab., 2020)Contact: EIB, www.eib.org; Resalta, www.resalta.com

More Low-Carbon Energy News European Investment Bank,  

European Investment Bank
Date: 2020-01-17
The European Investment Bank (EIB) has launched the second edition of the EIB Climate Survey. The findings are particularly relevant at a time when climate is one of the top priorities in the EU's agenda, and following the EIB's adoption of a new, fossil-fuel free energy lending policy and a new climate roadmap.

Conducted in partnership with market research firm BVA, the survey aims to inform the broader debate on citizens' attitudes and expectations in terms of climate action in the European Union, the United States and China. .

Download the 2nd EIB Climate Survey HERE. (Source: European Investment Bank, Website, Jan.,2020) Contact: EIB, www.eib.org

More Low-Carbon Energy News European Investment Bank,  Climate Change,  

Iberdrola
Date: 2020-01-08
Madrid-headquartered renewable energy giant Iberdrola is reporting completion of the 500-MW Nunez de Balboa solar project -- the largest in Europe -- according to Iberdrola. The facility is now being tested by Spanish grid operator Red Electrica de Espana (REE) and is slated for full commercial operation in Q1, 2020.

The €290 million ($325 million) facility incorporates solar panels from Chinese manufacturers Suntech, Longi and GCL-SI. The project was financed through the European Investment Bank (EIB)and the Spanish state-owned Instituto de Credito Oficial. (Source: Iberdrola, Various Media, GTM, 3 Jan., 2019) Contact: Iberdrola Renewables, Xabier Viteri, Dir. Renewables Business, www.iberdrolarenewables.com

More Low-Carbon Energy News Iberdrola,  Solar,  

WindFloat Atlantic ,Windplus
Date: 2020-01-06
Following up on our November 6, 2019 coverage, Windplus, a consortium of utilities EDP Renewables, ENGIE and Spanish oil major Repsol is reporting the first of three 8.4-mw MHI Vestas turbines of the WindFloat Atlantic project, the world's largest floating wind turbine, is now generating power off the coast of Portugal.

The WindFloat Atlantic project was partially funded with a €60 million loan from the European Investment Bank (EIB.)(Source: Windplus, WindFloat Atlantic, gtm, 2 Jan., 2019) Contact: EDP Renewables, www.edpr.com, www.edp.com/en/windfloat; Repsol, www.repsol.com; Windplus, Dr. Carsten Meyer, 0421 897 660 0, c.meyer@windplus.de, www.windplus.de; EIB, www.eib.org

More Low-Carbon Energy News EDP Renewables,  Repsol,  EIB,  Windfloat Atlantic,  Floating Wind,  Offshore Wind,  

Chrysalix Technologies,Imperial College London
Date: 2019-12-13
Imperial College London reports its spin-out company Chrysalix Technologies has been awarded €2.3 million in grant funding from the European Innovation Council's Accelerator programme as well as additional investment from the European Investment Bank (EIB) and others investors.

Chrysalix Technologies BioFlex process uses waste wood and agricultural by-products as well as sustainably grown biomass to produce bioplastics, biofuels, biomaterials and greener chemicals. The process separates the different naturally occurring chemical components of wood, which are lignin, cellulose, and hemicelluloses. Once isolated individually, these components can then be used for a variety of applications such as as bio-chemicals, precursors for plastics or as new materials themselves , according to the company website. (Source: Chrysalix Technologies, Imperial College London, PR, 12 Dec., 2019) Contact: Imperial College London, www.imperial.ac.uk; Chrysalix Technologies, Twitter: @ChrysalixTech, info@chrysalixtechnologies.com, www.chrysalixtechnologies.com

More Low-Carbon Energy News Imperial College London,  ,  Biorefining,  

European Investment Bank
Date: 2019-10-21
In the capital city of Amman, Jordan is reporting receipt of a $50 million loan from the European Investment Bank (EIB) under a deal penned by the Jordanian Cities and Villages Development Bank (CVDB).

The funds will be to support sustainable development, renewable energy and energy efficiency infrastructure in roughly 100 municipalities in the Kingdom. (Source: MENAFN, EIB, 19 Oct., 2019) Contact: EIB, www.eib.org

More Low-Carbon Energy News European Investment Bank ,  Energy Efficiency,  Renewable Energy,  

European Investment Bank
Date: 2019-10-16
The 28-member European Union's Luxembourg-based European Investment Bank (EIB) reports it is poised to limit funding for fossil fuels and increase support for renewable, clean energy projects as part of it climate change plan. The move to support renewables is reportedly being pushed by Ursula von der Leyen, the incoming president of the European Commission, who wants the EIB to become a "climate bank" and help unlock €1 trillion ($1.1 trillion) to shift the economy toward cleaner forms of energy. Von der Leyen is also calling for the EU to deepen its current target to cut emissions by at least 40 pct by 2030 from 1990 levels.

In 2018, the EIB invested over €16 billion in climate-action projects. (Source: EIB, Bloomberg, 15 Oct., 2019)Contact: European Investment Bank, www.eib.org

More Low-Carbon Energy News Renewable Energy,  Clean EnergyEuropean Investment Bank ,  

European Investment Bank
Date: 2019-10-04
The European Investment Bank (EIB) has announced a new Greek Infrastructure Fund with €450 million plus the participation of the country's four systemic banks to support high-priority sustainability and energy efficiency projects worth at least €650 million.

The Infrastructure Fund is a joint initiative by the Greek Finance Ministry and the EIB, aimed at bankrolling renewable energy projects and bolstering new investments aimed at improving the energy efficiency of public and private buildings. The Infrastructure Fund will use national resources in combination with European structural and investment funds. (Source: EIB, ekathimerini.com, 1 Oct., 2019) Contact: European Investment Bank, www.eib.org

More Low-Carbon Energy News Energy Efficiency,  European Investment Bank ,  

European Investment Bank
Date: 2019-08-09
The European Investment Bank (EIB) reports it will provide €385 million in loan funding for Alfanar Group's construction of 21 wind farms totaling 547 MW in Andalusia, Asturias, Castilla-La Mancha, Castilla Leon, Galicia and Navarra in Spain.

The EIB, the world's first and largest issuer of green bonds, is the long-term lending institution of the European Union owned by its 28 Member States. The EIB aims to dedicate at least 25 pct of its investments to climate change mitigation and adaptation, supporting low-carbon growth with climate resilience. In 2018, and for the ninth consecutive year, the EIB exceeded its climate finance target, providing €16.2 billion to promote climate action. (Source: European Commission, PR, 8 Aug., 2019) Contact: European Commission, www.eceuropa.eu

More Low-Carbon Energy News European Investment Bank ,  Wind,