ANNOUNCEMENT 11 Jul 2019

In July 2019, the European Investment Bank (EIB) signed a loan agreement with Iberdrola, S.A. to support the company's 426 MW solar photovoltaic plant in Spain.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

The European Investment Bank, Financed Projects, IBERDROLA NUNEZ DE BALBOA PV: https://www.eib.org/en/projects/loans/all/20180584
The European Investment Bank, Project summary, IBERDROLA NUNEZ DE BALBOA PV: https://www.eib.org/en/projects/pipelines/all/20180584
Iberdrola, S.A.: https://www.iberdrola.com/about-us

Inception date: 11 Jul 2019 | Removal date: open ended

State loan

On 11 July 2019, the European Investment Bank (EIB) and Iberdrola, S.A. signed a loan agreement having a total value of EUR 145 million (approx. USD 163 million). The loan will support the company's Nunez de Balboa photovoltaic Plant located in Spain. 

In this context, the EIB noted that: "The operation will be structured as a senior loan to Iberdrola Financiación S.A., the financial subsidiary of the Group, with a parent guarantee provided by Iberdrola S.A., in line with previous operations with the counterpart."

Iberdrola, S.A. has its headquarters in Spain with operations in the United States, Brazil and a number of European countries including in Portugal and the United Kingdom. The company engages in electricity generation, transmission, distribution and sale.

A state act in the GTA database is assessed solely in terms of the extent to which its implementation affects foreign commercial interests. On this metric, the investment support granted here is discriminatory. 

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