[SMM Flash News] Iberdrola Secures EUR 29 Million EIB Loan for 40-MW Wind Farm in Spain

Published: Jul 28, 2026 09:31

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Iberdrola and the Basque Energy Agency (EVE) have secured a EUR 29 million green loan from the European Investment Bank (EIB) to support construction of the 40-MW Labraza wind farm in Spain's Basque Country. The project, with a total investment of EUR 59 million, will be the region's first wind farm to enter operation since 2006. Expected to generate nearly 100 GWh of electricity annually, the facility will supply power to around 75,000 people and operate under power purchase agreements (PPAs) with local businesses.

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