Spaniards bank RE support
EIB and Banco Santander sign agreement to boost clean investment
The European Investment Bank (EIB) and Banco Santander have signed an agreement to help develop investment in renewable energy.
The risk-sharing agreement aims to support Banco Santander in financing new renewable energy projects with an investment cost of at least €400m.
As part of the deal, EIB will take on a €200m participation in a Banco Santander loan portfolio covering renewable energy and infrastructure.
The deal was signed under an Investment Plan for Europe guarantee enabling the EIB – via Banco Santander – to provide new projects with the financing that do not have easy access to credit.