Iberdrola España Signed EUR29 million Green Loan for 40 MW Onshore Wind Farm

Iberdrola España and the Basque Energy Agency (EVE) have reinforced their commitment to the 40 MW Labraza wind farm with the signing of a €29 million (USD33 million) green loan from the European Investment Bank (EIB).
The financing will accelerate the development of a key infrastructure project for electrification, strengthening the Basque Country's energy autonomy and security while also boosting industrial activity, job creation and the region's competitiveness.

The wind farm is located in the municipality of Oion in Álava, will be the first wind farm to become operational in the Basque Country since 2006. The project represents an investment of €59 million (US$67.2 Million) and will act as a catalyst for the Basque wind energy sector and its supply chain.

The project, which has been declared to be in the public interest by the Department of Territorial Balance and Spatial Planning of the Provincial Council of Álava, will hve an installed capacity of 40 MW and generate nearly 100,000 MWh of clean energy each year. This is enough to supply 75,000 people and avoid the emission of approximately 16,300 tonnes of CO₂ annually.

The development of the wind farm will create around 100 jobs, primarily for local workers, during the construction phase, and will deliver positive economic impacts and benefits for nearby municipalities and businesses.