X
  • Renewable Power
  • Nuclear Power
  • Thermal Power
Power Gen Advancement
  • Home
  • News
    CHSN01 is a breakthrough

    The New Metal from China – The CHSN01 is a Breakthrough

    US Companies Advance Renewables

    US Companies Advance Renewables Inspite of Policy Setbacks

    Fusion Energy Projects in the UK

    Fusion Energy Projects in the UK Get Government Support

    26 MW offshore wind turbine

    China Installs Most Powerful 26 MW Offshore Wind Turbine

    Cross Border Renewable Energy Projects

    5 New Cross-Border Renewable Energy Projects Approved by EC

    UK Solar Capacity

    UK Solar Capacity Sets New Generation Record with Rollouts

    NextGen Triboelectric Nanogenerators TENGs

    China Develops Next-Gen Triboelectric Nanogenerators – TENGs

    breakthrough in artificial photosynthesis

    Breakthrough in Artificial Photosynthesis for Clean Energy

    UK Project to Offer 1 GW Lithium Ion BESS

    The First UK Project to Offer 1 GW Lithium-ion BESS

  • Market Moves
    EIA Data Reveal Renewables

    EIA Data Reveal Renewables Provided Almost a Third of U.S. Electrical Generation and Nearly Matched Natural Gas in March as Solar Outproduced Hydropower and Solar+Wind Were Greater than Either Coal or Nuclear

    Thermal Energy Storage Market

    Thermal Energy Storage Market Growth Driven by Clean Energy

    Offshore Wind Turbine Market

    Offshore Wind Turbine Market to Hit $39.2 Billion by 2031

    Gen AI Drone

    Gen AI & Drone Assets Transforming Energy & Utilities Sector

    Electricity Grid in UK

    How Electricity Grid in the UK is Witnessing Transformation

    UK Battery Storage

    The Evolving UK Battery Energy Storage Systems Market

    Hydrogen Fueling Station Market to Reach $2.88B by 2030

    Hydrogen Industry to Grow 10.4% CAGR, Hit $47.83B by 2034

    Hydrogen Fuel Cells Market to Reach $5.9 Billion by 2031

  • Press Statements
    Asian Agri PLN Signs Agreement

    Asian Agri, PLN Signs Agreement to Supply Renewable Energy in North Sumatra

    Delivery of Natural Gas Turbines

    Georgia Power Receives Delivery of Natural Gas Turbines

    Banpu Supercharges Clean Energy Portfolio

    Banpu Supercharges Clean Energy Portfolio with 350 MW Battery Project in Australia to Advance Decarbonization Goal

    EIA Data Reveal Renewables

    EIA Data Reveal Renewables Provided Almost a Third of U.S. Electrical Generation and Nearly Matched Natural Gas in March as Solar Outproduced Hydropower and Solar+Wind Were Greater than Either Coal or Nuclear

    Energy Evolution Conference 2026

    Energy Evolution Conference 2026: Shaping the Future of Renewable Energy in Dubai

    Eaton-announces-breakthrough

    Eaton announces breakthrough, AI-powered innovation to help utilities strengthen wildfire prevention efforts

    First-Digital-Twin

    ETAP and Schneider Electric Unveil Worlds First Digital Twin to Simulate AI Factory Power Requirements from Grid to Chip Level Using NVIDIA Omniverse

    E-world 2025 has started with record participation

    Houston to host key hydrogen summit as industry faces new political landscape

  • White Papers
  • Projects
  • Events & Conferences
  • Contact Us
No Result
View All Result
  • Home
  • News
    CHSN01 is a breakthrough

    The New Metal from China – The CHSN01 is a Breakthrough

    US Companies Advance Renewables

    US Companies Advance Renewables Inspite of Policy Setbacks

    Fusion Energy Projects in the UK

    Fusion Energy Projects in the UK Get Government Support

    26 MW offshore wind turbine

    China Installs Most Powerful 26 MW Offshore Wind Turbine

    Cross Border Renewable Energy Projects

    5 New Cross-Border Renewable Energy Projects Approved by EC

    UK Solar Capacity

    UK Solar Capacity Sets New Generation Record with Rollouts

    NextGen Triboelectric Nanogenerators TENGs

    China Develops Next-Gen Triboelectric Nanogenerators – TENGs

    breakthrough in artificial photosynthesis

    Breakthrough in Artificial Photosynthesis for Clean Energy

    UK Project to Offer 1 GW Lithium Ion BESS

    The First UK Project to Offer 1 GW Lithium-ion BESS

  • Market Moves
    EIA Data Reveal Renewables

    EIA Data Reveal Renewables Provided Almost a Third of U.S. Electrical Generation and Nearly Matched Natural Gas in March as Solar Outproduced Hydropower and Solar+Wind Were Greater than Either Coal or Nuclear

    Thermal Energy Storage Market

    Thermal Energy Storage Market Growth Driven by Clean Energy

    Offshore Wind Turbine Market

    Offshore Wind Turbine Market to Hit $39.2 Billion by 2031

    Gen AI Drone

    Gen AI & Drone Assets Transforming Energy & Utilities Sector

    Electricity Grid in UK

    How Electricity Grid in the UK is Witnessing Transformation

    UK Battery Storage

    The Evolving UK Battery Energy Storage Systems Market

    Hydrogen Fueling Station Market to Reach $2.88B by 2030

    Hydrogen Industry to Grow 10.4% CAGR, Hit $47.83B by 2034

    Hydrogen Fuel Cells Market to Reach $5.9 Billion by 2031

  • Press Statements
    Asian Agri PLN Signs Agreement

    Asian Agri, PLN Signs Agreement to Supply Renewable Energy in North Sumatra

    Delivery of Natural Gas Turbines

    Georgia Power Receives Delivery of Natural Gas Turbines

    Banpu Supercharges Clean Energy Portfolio

    Banpu Supercharges Clean Energy Portfolio with 350 MW Battery Project in Australia to Advance Decarbonization Goal

    EIA Data Reveal Renewables

    EIA Data Reveal Renewables Provided Almost a Third of U.S. Electrical Generation and Nearly Matched Natural Gas in March as Solar Outproduced Hydropower and Solar+Wind Were Greater than Either Coal or Nuclear

    Energy Evolution Conference 2026

    Energy Evolution Conference 2026: Shaping the Future of Renewable Energy in Dubai

    Eaton-announces-breakthrough

    Eaton announces breakthrough, AI-powered innovation to help utilities strengthen wildfire prevention efforts

    First-Digital-Twin

    ETAP and Schneider Electric Unveil Worlds First Digital Twin to Simulate AI Factory Power Requirements from Grid to Chip Level Using NVIDIA Omniverse

    E-world 2025 has started with record participation

    Houston to host key hydrogen summit as industry faces new political landscape

  • White Papers
  • Projects
  • Events & Conferences
  • Contact Us
No Result
View All Result
Power Gen Advancement
No Result
View All Result
Home News

The EIB finances Iberdrola’s solar plants in Portugal

in News, Solar Energy

Note* - All images used are for editorial and illustrative purposes only and may not originate from the original news provider or associated company.

The European Investment Bank (EIB) and Iberdrola have signed a new agreement to accelerate Portugal’s energy transition via the development of new renewable energy plants. The EU bank will provide a €70 million green loan for the construction of a portfolio of projects with a total capacity of around 188 megawatts (MW). These new facilities, awarded at auctions in 2019, will produce green and competitive energy equivalent to the average consumption of more than 65,000 households. In total, more than 150 million euros will be provided for these solar projects.

The EIB will finance five solar PV plants and their connections to the grid, located in the Portuguese regions of Algarve, Centro, Alentejo and Lisbon. These projects are mainly located in rural areas, which are considered cohesion regions by the European Union.

The financing will go to the followingprojects: Montechoro I and II (37 MWp), Alcochete I and II (46 MWp), Algeruz II (27 MWp), Conde (14 MWp) and Carregado (64 MWp). The financing will also include ancillary infrastructure such as access roads, substations and interconnections.

The investments will boost economic growth and employment in these regions. Overall, the new infrastructure will create around 1,000 direct jobs during the construction phase, in addition to those generated in the wider supply chain.

EIB Vice-President Ricardo Mourinho Félix said: “The agreement signed today confirms the Bank’s commitment to support Europe in achieving climate targets. We are pleased to collaborate with Iberdrola in its first ever solar power plants in Portugal which will also generate economic growth and jobs in cohesion regions. This project is an excellent example of the strategic cooperation between the EIB – Europe’s climate bank and Iberdrola – a global leader in renewables, united in supporting the green recovery, the green transition and Europe’s energy security.”.”

José Sainz, Iberdrola’s Chief Financial Officer, explained that: “This collaboration with the EIB is a boost for Iberdrola’s projects in Portugal. This comes at a critical time for the energy transition, as more renewables is the only way to reduce our dependence on fossil fuels”.

The financing signed with the EIB is also in line with “Iberdrola’s commitment to support the energy transition in Portugal, where we intend to triple our solar capacity by 2023,” said Sainz.

This is the second time that the EIB has provided financing for Iberdrola’s projects in Portugal, following a previous loan of 650 million euros for the Tâmega gigabattery hydro project.

Recently, Iberdrola’s executive chairman, Ignacio Galán, reinforced the company’s plans to support the energy transition in Portugal. By the end of 2023, the group’s investments in Portugal will have exceed 2 billion euros. The company plans to allocate an additional 3 billion euros in the coming years for new solar, wind and storage projects, as well as new solutions such as green hydrogen.

Iberdrola operates the Tâmega gigabattery in Portugal, the largest clean energy initiative in the country’s history with an investment of more than 1.5 billion euros, three dams and three power plants (Gouvães, Daivões and Alto Tâmega). In total the project has a storage capacity of 40 million kWh, equivalent to the average daily energy consumption of 11 million people.

In addition, Iberdrola already operates 92 MW of wind power in Portugal, acros three wind farms. These include Catefica, in the municipality of Torres Vedras, with 18 MW; Alto do Monção, in Mortágua and Tondela, with 32 MW; and Serra do Alvão, in Ribeira de Pena, with 42 MW. Together, these plants produce 200 GWh per year, equivalent to the electricity used by 35,000 households.

Previous Post

Acwa Power enters PPA for Uzbekistan wind farm

Next Post

Lightsource bp finishes second solar project for Southeastern Pennsylvania Transportation Authority

Related Posts

CHSN01 is a breakthrough
News

The New Metal from China – The CHSN01 is a Breakthrough

September 8, 2025
US Companies Advance Renewables
America

US Companies Advance Renewables Inspite of Policy Setbacks

September 8, 2025
Renewables in the US
Renewable Power

Renewables in the US Hold Major New Electricity Share

September 8, 2025
Fusion Energy Projects in the UK
News

Fusion Energy Projects in the UK Get Government Support

September 4, 2025
26 MW offshore wind turbine
News

China Installs Most Powerful 26 MW Offshore Wind Turbine

September 4, 2025
Cross Border Renewable Energy Projects
Europe

5 New Cross-Border Renewable Energy Projects Approved by EC

September 4, 2025
Next Post

Lightsource bp finishes second solar project for Southeastern Pennsylvania Transportation Authority

LatestNews

CHSN01 is a breakthrough
News

The New Metal from China – The CHSN01 is a Breakthrough

September 8, 2025
US Companies Advance Renewables
America

US Companies Advance Renewables Inspite of Policy Setbacks

September 8, 2025
Fusion Energy Projects in the UK
News

Fusion Energy Projects in the UK Get Government Support

September 4, 2025
26 MW offshore wind turbine
News

China Installs Most Powerful 26 MW Offshore Wind Turbine

September 4, 2025
Cross Border Renewable Energy Projects
Europe

5 New Cross-Border Renewable Energy Projects Approved by EC

September 4, 2025
UK Solar Capacity
News

UK Solar Capacity Sets New Generation Record with Rollouts

September 4, 2025
Power Gen Advancement

About Us

Power Generation Advancement is a leading information centric website providing latest up to date information and happenings within the industry. The website is sub divided into 3 sectors updating the latest news and developments about Power Generation industry through Renewable Energy, Nuclear Energy, Thermal Energy sources. Power Generation Advancement runs with an objective to provide a one stop knowledge driven content to our reader and subscribers in various forms like news, projects, upcoming events.

Subscribe Us

Resources

  • Advertise with us
  • Our Services
  • Contact Us
  • Download Mediapack
  • Newsletter Archive

System

  • Search
  • Sitemap
  • RSS Feed

© 2017 Copyright © Valuemediaservices 2017 All rights reserved.

No Result
View All Result
  • Home
  • News
  • Market Moves
  • Press Statements
  • White Papers
  • Projects
  • Events & Conferences
  • Contact Us

© 2017 Copyright © Valuemediaservices 2017 All rights reserved.

Login to your account below

Forgotten Password?

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In