The CEB funds will be channeled through Banco Santander to enterprises selected in the renewable energy auctions organised by the Spanish government in 2016 and 2017. The funds will contribute to the financing of potential projects identified by Banco Santander for the construction of biomass, wind and photovoltaic power plants.
The loan will have a positive impact on the environment, create new jobs, and contribute directly to the Spanish government’s efforts to reach its Europe 2020 targets in terms of generating energy from renewable sources and reducing greenhouse gas emissions.
This is the third programme of Banco Santander which receives CEB financing and the first in the area of environmental protection. Previous CEB loans to Banco Santander approved in 2017 and 2013 in the amount of €200 million were used to support the productive investments of micro, small, and medium-sized businesses (MSMEs).
Vice-Governor Sánchez-Yebra said: “The agreement signed today with Banco Santander, a valuable CEB partner, reaffirms the CEB’s firm commitment to the protection of the environment, one of the Bank’s priority areas as set out in its Development Plan. Of course, the environmental aspect is taken into account for every project that the CEB considers. But we also finance projects with a solely environmental focus such as this, and we are confident that the loan will help the Spanish government achieve its Europe 2020 targets.”
Original source: CEB
Published on 18 September 2018
