Iberdrola has signed an agreement with the EIB and the Instituto de Credito Oficial (ICO) to drive the green recovery in Spain by developing new renewable energy capacity. To this end, the EIB and ICO will provide Euro 600 million and Euro 200 million, respectively, to the Spanish utility to finance the construction of over 20 projects with total capacity exceeding 2,000 MW. These new facilities would provide renewable energy equal to the average annual energy demand of almost 1 million households. In concrete terms, the EIB and ICO will finance PV plants and wind farms in several parts of Spain. Part of the financing from these loans will go towards setting up a new solar plant of capacity 328 MW in Caceres, in the municipalities of Ceclavin and Alcantara. More projects have been analysed to benefit from financing under this credit line, including wind farms and solar plants across Spain. These projects will not only expand clean energy generation but also improve Spain’s energy security.