EIB authorizes EUR1 billion for clean energy tasks across Europe and Uzbekistan

• The European Financial Investment Bank (EIB) has actually allocated EUR1 billion for clean energy projects in Europe and Central Asia as part of a larger EUR4.9 billion facilities, real estate, transport and communications financing package.

The financing authorized by EIB’& rsquo; s board on Wednesday will support the building and construction and operation of 18 brand-new PV plants in Spain, a significant district heating job in Uzbekistan, and help Dutch transmission company TenneT develop new transmission lines.

Quizzed by PV Tech on the information of the investments, EIB spokesperson Richard Willis validated that the Spanish funding tranche will support the advancement of 900MWp of solar capacity awarded to Zero-E Solar in a competitive federal government auction in July 2017.

The 18 plants are prepared for the Spanish regions of Aragon and Castilla La Mancha and are forecast to cost €& euro; 577 million in total, according to the EIB’& rsquo; s website. The bank approved a €& euro; 288 million loan to the jobs in December.

Zero-E, the renewables arm of Spanish civil engineering firm ACS, is “& ldquo; taking a look at a loan for twenty years, which shows the financial life of the task, which standard procedure, and a grace duration of one year,” & rdquo; stated Willis.

He also exposed that a wind task in Austria and a public sector project set to consist of small-scale clean energy development on public facilities in Trento, northern Italy were likewise set to benefit from the recent funding announcement.

More details will follow about each initiative once funding is concurred and concluded.

The remainder of the €& euro; 4.9 billion financing plan will money sustainable transportation, high-speed interactions, energy-efficient social housing and health and education infrastructure in Europe.