Iberdrola, ICO, Sabadell, and HSBC have signed a syndicated green loan for € 500 million that is insured by Cesce through its Green Investment Policy.
Cesce’s coverage is provided on behalf of the Spanish State, with assistance from the Internationalization Risk Reserve Fund, which is part of the Spanish Ministry of Economy, Trade and Enterprise. The green loan has a repayment period of 15 years.
This is the first loan aimed at promoting renewable energy projects that the ICO will finance with Next Generation funds in the second phase of the Recovery Plan. The operation is part of the “ICO-Verde” programme. The funds from the operation will be used to finance wind, solar PV, and battery storage projects in the United States, Australia and Italy. The total financed renewable capacity will reach 897 MW, which is expected to come into operation between 2025 and 2026.
