The European Investment Bank (EIB) has extended a green loan of about €175 million to Iberdrola to support the construction and operation of two new onshore wind farms in northern Portugal. The project covers a combined installed capacity of 274 MW and is designed to be integrated with Iberdrola’s existing Támega pumped storage hydropower complex. The financing is backed by a guarantee from Cesce, the Spanish export credit agency.
Once operational, the wind farms are expected to supply clean electricity to more than 400,000 people and will form part of what is described as the Támega wind hybridisation initiative. The Támega wind hybridisation involves connecting the two new wind farms with three existing hydropower plants: Gouvães, Daivões, and Alto Támega; located along the Támega river near Porto. Installation activities are already underway, with the first wind turbine completed.
In November 2025, Iberdrola and EIB signed a €500 million green loan with Iberdrola for the development of the Windanker offshore wind farm in the German Baltic Sea. The project will have an offshore wind capacity of 315 MW. Construction began with the installation of the first monopile earlier in November 2025, with turbine installation scheduled for 2026, and full commissioning expected by the fourth quarter of 2026.
