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Iberdrola has been granted a €200 million loan

Published on Nov. 28, 2011

 
Iberdrola has been granted a €200 million loan

Las week Iberdrola received a €200 million loan from the EIB, European Investment Bank. The money will be destined to optimize and modernise its electricity distribution network. The agreement was signed last week in Luxemburg by EIB Vice-President Magdalena Álvarez Arza and IBERDROLA Chairman Ignacio Sánchez Galán.

This loan will support Iberdrola´s investment program, which implies not only the upgrading of the now existing network, but developing a large list of new facilities, with the purpose of increasing safety, reliability and efficiency of energy supply, matching the expected increase in demand in the coming years for the benefit of both, customers and producers.

Among the new facilities to be installed, are the smart meters which will provide customers with real time information about energy consumption.

This loan is in line with the financing policy of the EIB, which is conducted under the lines of fostering sustainable, competitive and secure energy, giving priority to finance investments in renewable energies, energy efficiency, energy R&D and innovation, the diversification and security of the internal energy supply, and external energy security.

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Iberdrola

IBERDROLA es el primer grupo energético español, una de las cinco mayores compañías eléctricas del mundo y líder mundial en energía eólica. Cuenta ...

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