Endesa inks new EUR-250m sustainability-linked mortgage with EIB

April 4 (Renewables Now) – Spanish utility group Endesa SA (BME:ELE) mentioned on Monday that it has secured a EUR-250-million (USD 275.1m) sustainability-linked mortgage from the European Funding Financial institution (EIB) to proceed rising its renewables fleet in Spain.

The monetary phrases are linked to the situation that Endesa reduces its scope 1 greenhouse fuel emissions, the utility mentioned.

The brand new mortgage comes after Endesa borrowed EUR 250 million from the EIB in November 2021 below the identical sustainability circumstances. Each loans are a part of a framework programme that might see the EU lender extending a complete of EUR 700 million.

Endesa didn’t say which considered one of its renewable power initiatives will likely be supported with the most recent financing. In 2021, the corporate grew its renewables capability in Spain by 8% on the yr to eight,300 MW. Its purpose for 2030 is to boost the renewables capability to 24,000 MW, and for that, it’s already making ready a portfolio of wind, photo voltaic and storage initiatives.

At current, Endesa has 1,800 MW of initiatives below building or approaching the development stage, it mentioned.

(EUR 1.0 = USD 1.100)

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