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| EIB, Spain’s ICO and Iberdrola to finance the Núñez de Balboa photovoltaic project in Spain The European Investment Bank (EIB) and the Instituto de Crédito Oficial (ICO) will finance the development of the Núñez de Balboa photovoltaic (PV) solar plant, which Iberdrola is currently building in Extremadura (Spain). With 500 megawatts (MW) total capacity and a surface area of nearly 1,000 hectares, the plant is the largest PV project under construction in Europe. It will be able to supply clean energy to 250,000 people, more than the combined population of the cities of Cáceres and Badajoz, and will avoid the emission into the atmosphere of 215,000 tonnes of CO2 per year. This green finance agreement was signed in Madrid by EIB Vice-President Emma Navarro, ICO President José Carlos García de Quevedo and Iberdrola Chairman Ignacio Galán. The EU bank will lend €145 million and the ICO up to €140 million to the company's new renewable energy project, whose total investment exceeds €290 million. Núñez de Balboa is located between the Badajóz province municipalities of Usagre, Hinojosa del Valle and Bienvenida. Commissioning is planned for 2020 and during its construction phase over 1,000 people will be employed by the project, which includes the grid connection infrastructure. write your comments about the article :: © 2019 Construction News :: home page |