EIB finances the largest solar project in AndalusiaChristian Fernsby ▼ | June 26, 2020
The European Investment Bank (EIB) is investing €43.5 million to finance the largest solar project in Andalusia and one of the most powerful in Spain.
Powerful Andalusia solar project
Topics: EIB Andalusia
This investment, backed by the European Fund for Strategic Investments (EFSI), the main pillar of the Investment Plan for Europe, will contribute to Spain’s green recovery and will create around 350 jobs during the implementation phase in the transition region of Andalusia.
The Cabrera Solar Project includes the construction and operation of four 50MWp photovoltaic solar plants in Alcalá de Guadaira, Seville.
The four plants will provide enough clean energy to supply nearly 145 000 households per year and will contribute to reducing CO2 emissions by 300 metric kilotons (kt) CO2-equivalent per year.
It will have a significant impact on the Spanish renewable energy market, helping the country to meet the government’s objective of generating 20% of all the country’s energy needs from renewable sources by the end of this year.
Moreover, the Cabrera Solar Project will contribute to meeting the European Commission’s target of ensuring that at least 32% of Europe’s final energy consumption comes from renewables by 2030. ■