BNZ secures €166 million EIB loan for 700MW of European solar capacity

Facebook
Twitter
LinkedIn
Reddit
Email
BNZ's Alamak Solar project in Spain.
BNZ plans to commission 1.7GW of solar projects across Italy, Portugal and Spain. Image: BNZ.

Spanish independent power producer (IPP) BNZ has secured a €166 million (US$185.4 million) loan from the European Investment Bank (EIB) to support the deployment of 700MW of new solar capacity in Europe.

The financing is the first phase of a €500 million (US$558.3 million) loan approved by the EIB to support BNZ’s deployment of 1.7GW of new solar capacity in southern Europe by the end of 2026. This first phase will involve the construction of 17 new solar projects in Italy, Portugal and Spain, and the EIB noted that these projects will be built in regions “where per capita income is lower than EU average”.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

  • Regular insight and analysis of the industry’s biggest developments
  • In-depth interviews with the industry’s leading figures
  • Unlimited digital access to the PV Tech Power journal catalogue
  • Unlimited digital access to the Photovoltaics International journal catalogue
  • Access to more than 1,000 technical papers
  • Discounts on Solar Media’s portfolio of events, in-person and virtual

Or continue reading this article for free

“The new phase marked by the closing of our financing demonstrates the solidity of our business and the ambitious nature of our plans and opens a new scenario for us to explore technological and geographical diversity, and to grow in volume and team headcount, with the aim of becoming one of the largest IPPs in the market,” said BNZ managing director Luis Selva.

“We want to continue building a cleaner and more sustainable future, and the support from such significant financial institutions such as the EIB shows a shared long-term vision to achieve a better world.”

The news is a positive development for BNZ, which has ambitious plans for its solar portfolio, but yet to realise many of them. The company currently operates just 74MW of solar capacity in Spain, and with 1.7GW of capacity in its pipeline, the additional financial support from the EU could be essential to the company’s success.

This financial support is tied to a number of EU initiatives to support the greater deployment of renewable enery capacity, including InvestEU, the EU’s programme to mobilise more than €372 billion (US$415.4 billion) of public and private investment until 2027.

The funds are also part of the EIB’s support of the REPowerEU plan, which has sought to reduce European reliance on Russian oil and gas in the aftermath of Russia’s invasion of Ukraine, and is part of the EIB’s commitment of €30 billion (US$33.5 billion) of additional financing between 2022 and 2027. The news also follows the EU Commission’s €1.2 billion (US$1.3 billion) investment into a Polish renewable energy manufacturing programme, as the EU looks to support both upstream and downstream parts of the clean energy supply chain.

The announcement is good news for the European solar sector, which has seen a number of discouraging developments since much was made of the region’s potential for manufacturing, in particular, at the Intersolar event held over the summer in Germany. These include the departure of Meyer Burger CEO Gunter Erfurt earlier this week, raising questions about the long-term viability of solar manufacturing in Europe.

25 November 2025
Warsaw, Poland
Large Scale Solar Central and Eastern Europe continues to be the place to leverage a network that has been made over more than 10 years, to build critical partnerships to develop solar projects throughout the region.
2 December 2025
Málaga, Spain
Understanding PV module supply to the European market in 2026. PV ModuleTech Europe 2025 is a two-day conference that tackles these challenges directly, with an agenda that addresses all aspects of module supplier selection; product availability, technology offerings, traceability of supply-chain, factory auditing, module testing and reliability, and company bankability.
10 March 2026
Frankfurt, Germany
The conference will gather the key stakeholders from PV manufacturing, equipment/materials, policy-making and strategy, capital equipment investment and all interested downstream channels and third-party entities. The goal is simple: to map out PV manufacturing out to 2030 and beyond.

Read Next

June 9, 2025
Sonnedix has signed a power purchase agreement (PPA) with Renfe to supply 420GWh of renewable energy annually for its commercial operations.
June 6, 2025
Eternal Sun has acquired German solar simulator provider Wavelabs, which has resulted in the formation of a new subsidy, Wavelabs Eternal Sun.
Premium
June 6, 2025
Europe must secure the 'strategic segments' of the solar supply chain, according to experts at a PV Tech panel at this year's Intersolar event.
June 5, 2025
Investment in clean energy and grids will reach US$2.2 trillion in 2025, double the expected investment into fossil fuels this year, according to data from the International Energy Agency (IEA).
June 5, 2025
US renewable power developer Invenergy has commissioned the 250MW Hardin III Solar Energy Center in the US state of Ohio.
June 4, 2025
Independent power producer (IPP) Enlight Renewable Energy is expanding its Gecama Wind Project in Castilla La Mancha, Spain, by integrating solar PV and battery energy storage systems.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
June 17, 2025
Napa, USA
Upcoming Webinars
June 30, 2025
10am PST / 6pm BST
Solar Media Events
July 1, 2025
London, UK
Solar Media Events
July 1, 2025
London, UK
Solar Media Events
September 16, 2025
Athens, Greece