BNZ secures €166 million EIB loan for 700MW of European photo voltaic skill

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“The novel segment marked by the closing of our financing demonstrates the solidity of our commerce and the bold nature of our plans and opens a brand novel scenario for us to uncover technological and geographical diversity, and to develop in volume and crew headcount, with the scheme of turning into one amongst the biggest IPPs available within the market,” talked about BNZ managing director Luis Selva.

“We must proceed constructing a cleaner and more sustainable future, and the give a steal to from such important monetary institutions much just like the EIB displays a shared long-term imaginative and prescient to retain out a more in-depth world.”

The solutions is a determined constructing for BNZ, which has bold plans for its photo voltaic portfolio, but yet to take dangle of many of them. The firm currently operates factual 74MW of photo voltaic skill in Spain, and with 1.7GW of skill in its pipeline, the extra monetary give a steal to from the EU would be very well-known to the firm’s success.

This monetary give a steal to is tied to a replacement of EU initiatives to give a steal to the higher deployment of renewable enery skill, including InvestEU, the EU’s programme to mobilise more than €372 billion (US$415.4 billion) of public and private funding except 2027.

The funds are additionally section of the EIB’s give a steal to of the REPowerEU thought, which has sought to diminish European reliance on Russian oil and fuel within the aftermath of Russia’s invasion of Ukraine, and is section of the EIB’s dedication of €30 billion (US$33.5 billion) of additional financing between 2022 and 2027. The solutions additionally follows the EU Rate’s €1.2 billion (US$1.3 billion) funding into a Polish renewable energy manufacturing programme, as the EU appears to be like to be to give a steal to each upstream and downstream aspects of the aesthetic energy offer chain.

The announcement is correct knowledge for the European photo voltaic sector, which has viewed a replacement of discouraging traits since phenomenal used to be product of the put’s potential for manufacturing, in dispute, on the Intersolar tournament held over the summer season in Germany. These comprise the departure of Meyer Burger CEO Gunter Erfurt earlier this week, raising questions on the long-term viability of photo voltaic manufacturing in Europe.

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