Located in the North and West of the country, the three wind farms will have a total capacity of 96MW
Image: EIB offers $50.1m financing for construction of three wind projects in Portugal. Photo: courtesy of ©EDPR.
The European Investment Bank (EIB) has provided €45m ($50.1m) financing to Eólica da Linha, a subsidiary of EDP Renováveis (EDPR) for the construction of three wind projects in Portugal.
Located in the North and West of the country, the three wind farms include the 20.5MW Maunça wind farm in Batalha/Leiria, the 28.8MW Vigia wind farm in Tarouca and the 46.8MW Penacova wind farm in Penacova..
Banco Português de Investimento (BPI) is co-financing the projects, which will comprise 31 turbines of two different unit sizes such as 2MW and 3.6MW.
EDPR CEO João Manso Neto said: “this credit line will help us continue to strengthen our commitment in Portugal, our home market and a country that is making a significant effort in its transition towards a more environmentally-friendly energy mix.
“In addition to this, we feel especially motivated by the endorsement of an institution of the caliber of EIB, as it not only supports our business, but all our contribution to progress and development.”
The projects with a total capacity of 96MW are expected to create 240 jobs during the construction phase.
The project also includes electrical equipment such as internal array cabling, transformers (LV/MV) and civil works such as foundations, access and internal roads.
EIB said that the financing provided to EDPR is expected to support Portugal to implement the Government’s Renewable Energy Action Plan, under which the country expects to meet 80% of its gross electricity consumption from renewable sources by 2030.
EIB recently offered financing for Talayuela solar plant in Spain
Recently, EIB has agreed to provide €76.5m ($85.2m) financing for the construction and operation of the 300MW Talayuela solar plant in Extremadura, Spain.
The photovoltaic (PV) solar project will generate enough electricity to power approximately 150,000 households annually. .
The solar plant is one of the first greenfield renewable energy projects to be funded in Spain without any form of government/public support.