The European Investment Bank (EIB) said it has contributed financing to support around 243.6 MW of solar and wind projects in Austria and Spain.
The bank provided EUR 43.5 million (USD 48.7m) of EUR 96 million needed for the construction and operation of four 50-MWp solar photovoltaic (PV) parks collectively known as the La Cabrera project.
Deutsche Bank AG (ETR:DBK) and Rabobank also participated in the financing. The plants, named Cerrado Cabrera, El Primo Aleman, Hazas de los Sesenta and Los Gonzalez, are presently under construction in Alcala de Guadaira in Seville province.
The project is sponsored by German wind and solar park operator Encavis AG (ETR:CAP) and developed by UK company Solarcentury.
In a separate statement, the EIB said it is backing with EUR 63 million two wind projects developed by Austrian wind farm operator Windkraft Simonsfeld AG.
The new wind farms, the Prinzendorf III and Powi V, will have around 43.6 MW of combined capacity.
The biggest piece of the EIB financing, EUR 40.9 million, will be provided directly to the company. The remaining EUR-22.1-million loan will be provided by Austrian lender Erste Bank and guaranteed by the EIB.
Windkraft Simonsfeld will pay EUR 21 million out of its own pocket to finance the projects, the EU bank added.