The European Investment Bank (EIB) has partnered with Iberdrola to promote energy innovation in Spain, providing a substantial €120 million loan to support research and development projects that foster electrification and decarbonization. This initiative aligns with Iberdrola’s goal to transition towards a cleaner, more sustainable energy model, advancing renewable energy technology and smart grids. Through this collaboration, the EIB aims to facilitate an energy transition that promotes sustainability, economic growth, and resilience within Spain's energy sector.

The funding will fuel a wide array of projects focused on renewable energy generation, including solar, hydro, and wind power. Iberdrola is also working on hybrid and agrovoltaic initiatives, alongside efforts to advance green hydrogen and heat pumps, which are essential to meet decarbonization targets. These technologies will not only increase renewable energy output but also optimize energy storage and enhance efficiency, making the entire value chain more resilient to future challenges.

A significant portion of the loan will be invested in enhancing the digital infrastructure of energy distribution, with a focus on smart grid technology, cybersecurity, and advanced data management. This investment is aimed at building a robust, digitized grid that can efficiently integrate renewable sources and offer tailored solutions to consumers. In addition, Iberdrola plans to accelerate the adoption of electric mobility and self-consumption solutions, empowering consumers to participate actively in the clean energy movement.

This loan forms a key part of Iberdrola’s 2024-2026 strategic plan, which emphasizes decarbonization, digitalization, and renewable energy integration. The plan aims to drive economic growth and social cohesion by creating sustainable jobs, especially in underdeveloped regions. With a goal of doubling its investments in innovation to reach €4 billion by 2030, Iberdrola is focused on achieving meaningful climate action and advancing the EU’s sustainability objectives.

Iberdrola’s achievements have not gone unnoticed; it has been recognized as the leading private electric utility in R&D investment globally. This commitment is complemented by the EIB’s efforts to bolster energy security across Europe, having provided over €21 billion in energy funding in 2023 alone. Together, these initiatives reflect a strong commitment to a sustainable, competitive, and energy-secure future.

https://www.iberdrola.com/press-room/news/detail/eib-iberdrola-sign-120-million-loan-energy-innovation-spain


