Iberdrola has agreed a €1bn green loan with Banco Santander backed by an export credit agency in Europe.
The funds will be used primarily to finance Iberdrola’s orders of turbines for offshore and onshore windfarm projects in Spain, Poland, Greece, Germany and the United Kingdom.
The loan has a maximum maturity term of 15 years and will strengthen the diversification of Iberdrola’s sources of financing.
With this new loan, Iberdrola continues to consolidate its leadership in ESG financing, with more than €41bn in signed operations.
Of this, more than €23bn correspond to green financing and around €18bn to credit lines, loans or commercial paper programmes subject to compliance with sustainability objectives.
The transaction represents the largest green loan signed by Iberdrola to date.