Iberdrola has secured a €500 million syndicated green loan from ICO, Sabadell, and HSBC, with coverage from Cesce under its Green Investment Policy for the State. The 15-year loan, backed by the Internationalisation Risk Reserve Fund, aims to diversify the company’s financing sources.
This is the first loan promoting renewable energy projects financed with Next Generation funds in the second phase of the Recovery Plan.
An ICO representative noted
The funds will support wind and photovoltaic projects, as well as battery projects in the United States, Australia, and Italy, totaling 897 MW of renewable capacity, expected to become operational between 2025 and 2026.
Iberdrola has amassed €2,500 million in loans through partnerships with Export Credit Agencies (ECAs), highlighting strong international banking confidence. Recent financing moves include a CHF 335 million green bond placement, a €700 million green loan from the European Investment Bank for grid expansion in Spain, and a €300 million green loan extension with the World Bank for renewable projects in emerging markets.
Cesce, Spain’s Export Credit Agency, supports projects that align with EU Taxonomy or OECD Consensus requirements through its Green Investment Policy.
In December, Iberdrola secured a €5.3 billion credit line with 33 international banks, demonstrating significant banking support and favorable terms. As a global leader in sustainable financing, Iberdrola has issued over €22 billion in green bonds and continues to pioneer green loans within the energy sector. This financial strategy underpins its €41 billion investment plan for 2024-2026, focusing on electrification and renewable energy expansion.
