The European Investment Bank (EIB) has approved EUR 4.3 billion ($4.9bn) in financing deals for energy projects, including renewables, in Europe and India.
As well as onshore wind, hydropower and smart meter projects in Italy, projects include energy efficiency, solar, wind and district heating projects in France. Also, funds will go for natural gas distribution projects in Ireland and Spain, and renewable energy and energy efficiency in India.
In a separate development, the EIB announced the signing of a risk-sharing agreement with Banco Santander SA (BME:SAN), to help the Spanish bank finance investments of at least EUR400 million in new renewable energy projects.
The bank did not give a timeframe for the disbursement of the funds.
The EIB is the EU’s nonprofit bank, owned by and representing the interests of the member states. It tends to focus on development and climate change investment and is the world’s largest multilateral borrower and lender.
Earlier this year EIB provided a loan of $21.5m to a 10-MW biomass and waste gasification project in France.
The facility in Thouars will be producing combined heat and power using plasma torch technology developed by CHO Power, a unit of French clean technologies and renewable energy group Europlasma.
The total investment in the combined heat and power projects amounts to EUR55 million for the development, installation, operation and maintenance of the plant.