EU investment bank promotes solar energy with billions 1.7 billion euros
The European Investment Bank (EIB) is supporting solar energy in Southern Europe with up to 1.7 billion euros. Around 120 solar power plants are to be built, mainly in Spain, but also in Italy and Portugal, according to a statement issued on Monday.
According to the information, the plants are to be connected to the grid by the end of 2028 and have a total capacity of around 5.6 gigawatts. They are expected to generate an estimated 9.29 terawatt hours per year.
Greentech Solar: Plants to be connected to the grid by the end of 2028 and generate 5.6 gigawatts
The European Investment Bank (EIB) is the EU’s long-term lending institution. It is owned by the Member States. The Bank’s mission is to finance investments that contribute to EU policy objectives. The project is also supported by the InvestEU investment programme.