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Orlen signs €244m deal with EIB for renewable energy grid expansion

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Orlen has secured a second agreement with the European Investment Bank (EIB) for nearly 1bn zlotys ($244m) to fund its strategic electricity distribution network programme.  The investment will enhance renewable energy connections, including the development of 1,000 new EV charging points and an expansion of grid capacity to integrate 1.4GW of clean energy, powering 900,000 households. The programme will enable Energa Operator, an Orlen Group company, to begin projects in 2025, constructing 830km of power…

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EIB and EDP secure €700m loans for renewables and grid expansion

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The European Investment Bank (EIB) and Portuguese utility EDP have signed two loan agreements worth €700 million ($726.8 million) to fund renewable energy projects and expand the power grid in southern Europe. A €500 million loan, part of a €900 million green framework, will support EDP Renewables in deploying 1,943 MW of solar and onshore wind capacity across Portugal, Spain, and Italy by 2026.  These installations will generate green energy for over one million households…

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EIB grants €120 million loan to Iberdrola for energy innovation in Spain

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The European Investment Bank (EIB) has signed a €120 million loan agreement with Iberdrola to support research and innovation in energy technologies, focusing on accelerating electrification and decarbonisation. The total investment associated with these initiatives amounts to €250 million. The funding will be directed toward the development of renewable energy technologies, including solar photovoltaic, hydro, wind power, hybrid, and agrovoltaic projects. It will also support research into decarbonisation technologies such as green hydrogen and heat…

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EIB and Intesa Sanpaolo launch €8 billion wind sector initiative

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The European Investment Bank (EIB) and Intesa Sanpaolo have launched an initiative to unlock €8 billion in wind sector investments, as part of EIB’s €5 billion wind energy plan unveiled at COP28. Supported by InvestEU, this will support 32 GW of wind capacity toward the EU’s 2030 renewable energy target of 45%. EIB will provide a €500 million counter-guarantee, enabling Intesa Sanpaolo to establish €1 billion in guarantees for wind farm supply chains and grid…