Iberdrola España and the Ente Vasco de la Energía (EVE) have signed a €29m green loan agreement with the European Investment Bank (EIB) to advance the Labraza onshore wind farm. Located in Álava, Spain, this will be the first wind facility to commence operations in the Basque Country since 2006.
Requiring a total investment of €59m, the 40MW development is expected to generate approximately 100,000MWh of clean energy annually. This output will supply around 75,000 individuals while avoiding 16,300 tonnes of CO2 emissions each year.
The construction phase will create around 100 local jobs and stimulate regional supply chains. The initiative also incorporates community benefit mechanisms, including crowdlending opportunities and competitive power purchase agreements tailored for local businesses, bolstering both economic growth and energy security.
Track more details on the Labraza Onshore Wind Farm directly on EICDataStream.