The European Investment Bank (EIB) has agreed to provide €25.9 million in green financing to Spain's Iberdrola for a new wind farm in central Greece, the bank said Wednesday.
The Gatza project, in the municipalities of Orchomenou and Lokron, Viotia and Fthiotida, will add 22.5 megawatts of capacity, the lending arm of the EU said in a statement.
The package includes a €10 million loan from the EIB's own resources and €15.9 million from the European Union's Recovery and Resilience Facility, the statement added. It is the first deal the bank has signed with Rokas, Iberdrola's Greek subsidiary.
Once operational, the project will lift Iberdrola's total wind capacity in Greece to 443.5 megawatts, consolidating its role as one of the country's largest renewable energy producers.
By Handan Kazanci
Anadolu Agency
energy@aa.com.tr