Investment Plan supports clean energy projects in Spain and Austria

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The European Investment Bank (EIB) is providing finance to two clean energy projects: a solar energy plant in Spain and two wind farms in Austria. Both financing deals are backed by the European Fund for Strategic Investments. The first is a €43.5 million agreement to build and operate the 200 MWp Cabrera photovoltaic solar plant, the largest plant in Andalusia. The plant will provide enough clean energy to supply nearly 145,000 households per year and create 350 jobs in the construction phase. The second is €63 million of finance for the construction and operation of two new wind farms in Austria (Prinzendorf III and Powi V) with a total capacity of approximately 43.6 MW. Paolo Gentiloni, European Commissioner for the Economy, said: “Investing in renewable energies is crucial to meet the goals of the European Green Deal and to reach climate neutrality by 2050. This new EU support announce today will bring clean energy to thousands more households in Spain and Austria.” As of May 2020, the European Fund for Strategic Investments has mobilised €486 billion of investment across the EU, including €54.8 billion in Spain and €59.8 billion in Austria, and supported 1.2 million start-ups and small and medium businesses.