The European Bank of Investment (EIB) and the Spanish energy utility Gas Natural Fenosa have signed a loan for a total amount of €450m, to support the company's 2016-2019 investment plans.
Gas Natural Fenosa will use the EIB loan to finance its electricity distribution business in 8 Spanish regions (Canary Islands, Andalusia, Castile-La Mancha, Castile-Leon, Catalonia, the Region of Madrid, Extremadura and Galicia) as well as the construction and the development of renewable energy projects in Spain. In particular, the loan will support the construction of 11 new wind projects in the islands of Gran Canaria and Fuerteventura with a total installed capacity of 49.6 MW.
Gas Natural Fenosa has a capacity of around 12.7 GW in Spain (of which 7 GW in CCGT) and a production of 28.5 TWh (15.4 GW and 47 TWh globally) (2016). It accounts for about 12% of Spanish capacity and 11% of generation (2016). Gas Natural Fenosa Renovables was created in 2010 and its total domestic consolidated capacity reached 1,104 MW, of which 979 MW came from wind facilities and 110 MW from hydroelectric plants.
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