Cesce backs green loan for Iberdrola renewable expansion

(Global Trade Review, London, 5 August 2024) Spain’s export credit agency Cesce has agreed to cover a €500mn green syndicated loan for Iberdrola, backing its renewable expansion plans globally. The 15-year facility will help fund solar photovoltaic, wind and battery projects in the US, Italy and Australia. The total renewable capacity financed will reach 897MW and is expected to be operational between 2025 and 2026,” Iberdrola says. The facility furthers the Spanish energy company’s goal of diversifying its financing pool and brings its overall volume of export credit agency (ECA)-covered loans to a total of €2.5bn, it says. Last year, Norway’s ECA guaranteed a €500mn loan from Citi for a wind farm off the UK coast.

Country: 
Issue: