The European Investment Bank (EIB) and Banco Santander have signed an agreement to help develop investment in renewable energy.
The risk-sharing agreement aims to support Banco Santander in financing new renewable energy projects with an investment cost of at least €400m.
As part of the deal, EIB will take on a €200m participation in a Banco Santander loan portfolio covering renewable energy and infrastructure.
The deal was signed under an Investment Plan for Europe guarantee enabling the EIB – via Banco Santander – to provide new projects with the financing that do not have easy access to credit.
Image: EIB
