The European Investment Bank (EIB) and SACE’s Archimede Guarantee-backed Iberdrola have inked a €100 million green loan to construct a photovoltaic plant in Italy. This project is EIB’s first collaboration with Iberdrola under SACE’s Archimede guarantee framework. The plant will have a renewable energy generation capacity of 242.78 MWp sufficient to cater to the needs of approximately 154,000 Italian households.
Furthermore, 70 per cent of the total financing by the EIB is secured by SACE’s Archimede Guarantee. This provides a market-based guarantee for financings and bonds of up to 25 years. The plant which is located in the provinces of Enna and Catania, Sicily is set to be operational by 2025.
The European Investment Bank (EIB) and Iberdrola have previously collaborated to advance the renewable energy sector in Europe. In October 2024, the EIB inked a €120 million loan agreement with Iberdrola to support energy technology research and innovation in Spain. In May 2024, the EIB granted a €700 million green loan to Iberdrola to expand the electricity distribution network in Spain.
