ANNOUNCEMENT 25 Apr 2018

In April 2018, the European Investment Bank (EIB) signed a loan agreement to support the Goya Wind Project to be developed by the Spanish company Forestalia. 

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

The European Investment Bank, Project summary, GOYA WIND PROJECT: https://www.eib.org/en/projects/pipelines/all/20170097
The European Investment Bank, press release of 26 April 2018, Spain: Investment Plan for Europe - EIB provides EUR 50m to build nine wind farms in Aragón: eib.org/en/press/all/2018-108-investment-plan-for-europe-eib-provides-eur-50-million-to-build-nine-wind-farms-in-aragon
Invest in Spain, press release of 14 May 2018, Mirova, GE and Engie join Forestalia to build the Goya Project: http://www.investinspain.org/invest/en/press-room/Business/news/NEW2018788290_EN_US.html?orderBy=xfwm_cnt_Fecha1&orderType=desc

Inception date: 25 Apr 2018 | Removal date: open ended
Still in force

State loan

On 25 April 2018, the European Investment Bank (EIB) signed a financing agreement to support the Goya Wind Project having a total approved value of EUR 165 million (approx. USD 200.8 million).

The Project developer is the Spanish company Forestalia alongside three shareholders of the project Mirova, GE and Engie. The company was awarded the tender for the project in a 2016 auction under the Spanish support scheme for renewable electricity, see related act. The project consists of nine wind plants having a total capacity of 300MW. 

In this context, the EU Commissioner for Climate Action and Energy Miguel Arias Cañete stated in a press release: "The European Commission welcomes the financing of these nine wind farms in Aragón. Europe will always endeavour to support projects that invest in the transition to clean energy and job creation. Investing in renewables means investing in quality jobs. Spain has the potential to be the benchmark for renewable energies and sustainable long-term job creation. These projects provide an example of this potential and they will certainly not be the last."

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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