Wind Energy – Green Loan
Iberdrola is once again taking a decisive step towards green financing.
The company chaired by Ignacio Galán has signed its largest green loan with Banco Santander for an amount of €1 billion, which in turn is backed by an Export Credit Agency (ECA).
The loan has a maximum term of 15 years.
The funds will be used mainly to finance Iberdrola’s orders to suppliers of turbines for offshore and onshore wind farms for Iberdrola’s projects in Spain, Poland, Greece, Germany and the UK.
Export Credit Agencies (ECAs) exclusively manage credit and investment insurance on behalf of States, covering political, commercial and extraordinary risks associated with internationalisation. The guarantee mechanism for the green loan will be provided by the Export Credit Agency, while the funds for the operation will come from Banco Santander.
This green loan will strengthen the diversification of Iberdrola’s financing sources.
With this new loan, Iberdrola continues to consolidate its leadership in ESG financing, with more than €41 billion in signed operations, of which more than €23 billion correspond to green financing and around €18 billion to credit lines, loans or commercial paper programmes subject to compliance with sustainability objectives. The transaction represents the largest green loan signed by Iberdrola to date.