EIB providing loans to speed up deployment of 430MW of renewables in Spain and Portugal

Facebook
Twitter
LinkedIn
Reddit
Email
The 49MWp Mogadouro plant in the north of Portugal. Image: Efacec.

The European Investment Bank (EIB) will support the addition of 430MW of solar PV and wind in Spain and Portugal through a €100 million (US$114 million) financing deal.

Under what it describes as an “innovative alliance”, the bank will act as the lead lender to a fund managed by alternative investment manager Ben Oldman. This will then lend the funds as bridging loans to final beneficiaries as senior debt, normally via special purpose vehicles set up to carry out the projects.

This article requires Premium SubscriptionBasic (FREE) Subscription

Unlock unlimited access for 12 whole months of distinctive global analysis

Photovoltaics International is now included.

Not ready to commit yet?
  • 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 EIB, which is the European Union’s lending arm, said bridging loans cover a financing gap faced by medium-sized promoters, giving them access to the funds they need to move from the ready-to-build stage to the operational phase, accelerating project implementation.

These projects will not need power purchase agreements to receive unitranche loans, which combine two tranches of financing (senior and junior) in a single loan.

The loans will be financed in equal parts by junior bonds subscribed by investors (up to €100 million) and by the senior loan provided by the EIB (up to €100 million).

The commitment follows the EIB providing oil and gas company Galp with loans last year to support the construction of around 2.1GWp of solar PV projects in Spain and Portugal.

Last October, during a meeting to discuss soaring energy prices, the European Council called on the EIB to investigate how to speed up investments in the energy transition to reduce the risk of future energy price crises.

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.

Read Next

August 20, 2025
The consortium building the Al Sadawi PV power plant in Saudi Arabia has reached financial close on the 2GW project.
Premium
August 18, 2025
Jonathan Touriño Jacobo explores evidence of systemic problems in the Iberian grid and some of the solutions following the blackout.
August 13, 2025
Madrid-headquartered renewables developer Elawan has signed a 10-year power purchase agreement (PPA) to support a 150MW solar PV portfolio in northern Spain.
August 12, 2025
PV Hardware's latest generation of trackers can move up to two degrees post-to-post, more than the current industry standard of 1.75 degrees.
August 11, 2025
Spain-based renewable energy firm Exus Renewables has closed financing on a 130MW solar PV project in Portugal.
August 8, 2025
This week several solar developers have raised funds for projects around the world, including BRUC in Europe, Greenalia in the US, Qair in Mauritius and CREC in Philippines.

Subscribe to Newsletter

Upcoming Events

Solar Media Events
September 16, 2025
Athens, Greece
Solar Media Events
September 30, 2025
Seattle, USA
Solar Media Events
October 1, 2025
London, UK
Solar Media Events
October 2, 2025
London,UK
Solar Media Events
October 7, 2025
Manila, Philippines