COP28 Finance Day unlocked significant progress on international financial architecture reform to support low-income and vulnerable countries to fight climate change. Major international financial institutions and countries made new commitments to offer climate-resilient debt clauses (CRDCs) in their lending.
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Solaria has obtained €1.7 billion in framework financing from the European Investment Bank (EIB), to support the construction of 120 photovoltaic power plants covering Spain, Italy and Portugal. The framework agreement has a long-term project finance structure, which comprises several loans provided by financial institutions.
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PGE Polska Grupa Energetyczna S.A. has announced that it has received an investment approval for its 2.5 GW Baltica offshore wind project from European Investment Bank (EIB). The company will receive a financing of € 1.4 billion. The project is located in Poland. The project involves 2 stages: the 1.5 GW Baltica 2 and 1 GW Baltica 3, expected to be completed by 2027 and the end of the decade, respectively.
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The European Investment Bank (EIB) has provided a $213 million loan to Sicredi, a cooperative financial institution in Brazil, for solar energy initiatives. With the funding, Sicredi will install solar photovoltaic panels in Brazilian rural properties, small and medium businesses, and private residences. This project will fully assist the country’s efforts to combat climate change and advance its plans to produce increasing amounts of renewable electricity.
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The European Investment Bank (EIB) has formally agreed to join the India Hydrogen Alliance (IH2A) and increase its support for large-scale green hydrogen hubs and projects across India with indicative funding of €1 billion, subject to Indian government and EIB approvals. The alliance aims to bring industry, investors and government agencies together on green hydrogen hubs and projects.
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The European Investment Bank (EIB), the bank of the European Union, formally agreed to join the India Hydrogen Alliance (IH2A) and expand support for large-scale green hydrogen hubs and projects across India with indicative funding of €1 billion, subject to Indian government and EIB clearances. EIB is the biggest international public bank in the world and the leading financier of climate action and renewable energy.
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At the United Nations COP27 conference, the European Investment Bank (EIB) and AllianzGI have announced the mobilisation of $100 million to Alcazar Energy Partners II, a fund that facilitates the development, construction, and operation of renewable energy projects in the Middle East, North Africa, Eastern Europe, and Central Asia.
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This guide focuses on the use of the “concession” model to help meet this target. It addresses a perceived need for greater understanding of concessions among public authorities, particularly at the local and municipal levels, where responsibility for EV rollout typically lies. This guide seeks to increase general awareness and understanding of the use, structure and content of concession contracts for public EV charging infrastructure.
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Investment in projects dealing with water, sanitation, transport, renewable energy and energy efficiency is essential for Mediterranean countries to meet the challenges of climate change. CAMENA encourages this investment in several ways: it facilitates project preparation and implementation; it expands the capacity and capabilities of project promoters; and it mobilises public and private-sector finance.
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The European Investment Bank (EIB) will provide a funding of a 350 million Euros for developing the Courseulles-sur-Mer, or Calvados, offshore wind project in the English Channel. This offshore wind project has a capacity of 448 MW and will require a total of 2 billion Euros to be built. According to EIB, the financing will be guaranteed by the European Fund for Strategic Investments.
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Iberdrola has signed an agreement with the European Investment Bank (EIB) and the Instituto de Credito Oficial (ICO) to drive the green recovery by developing new renewable energy capacity in Spain.
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The European Investment Bank (EIB) has announced that it will provide strategic financial advice and support to RenFuel (Sweden), Bioforever (Netherlands) and Magaldi (Italy) to help prepare their climate action projects for potential financing.
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