4 Dec, 2024 @ 15:39
1 min read

Billion euro boost for green energy in Spain from European Investment Bank

Wind Farm In Avila.

THE European Investment Bank (EIB) has agreed to lend Spanish utility giant Naturgy a whopping €1 billion to ramp up renewable power generation by 2.3GW – enough to electrify over a million homes.

The cash injection will help Naturgy build new onshore solar and wind farms, upgrade existing sites, and install energy storage batteries. The first €400 million chunk of the loan was confirmed on November 29.

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The project promises to create 4,200 jobs in rural, depopulated areas of Spain, often referred to as ’empty Spain’. Naturgy’s executive chairman, Francisco Reynés, said the initiative would strengthen territorial cohesion and help rejuvenate struggling regions.

Naturgy’s green push is a key part of Spain’s effort to meet ambitious renewable energy goals, all while providing much-needed jobs to areas hit hard by economic decline.

Naturgy currently has more than 6.6 GW of capacity in operation all around the world.  This figure will continue, with several projects currently under construction in Spain, the United States and Australia, totalling an additional 2.2 GW.

Dilip Kuner

Dilip Kuner is a NCTJ-trained journalist whose first job was on the Folkestone Herald as a trainee in 1988.
He worked up the ladder to be chief reporter and sub editor on the Hastings Observer and later news editor on the Bridlington Free Press.
At the time of the first Gulf War he started working for the Sunday Mirror, covering news stories as diverse as Mick Jagger’s wedding to Jerry Hall (a scoop gleaned at the bar at Heathrow Airport) to massive rent rises at the ‘feudal village’ of Princess Diana’s childhood home of Althorp Park.
In 1994 he decided to move to Spain with his girlfriend (now wife) and brought up three children here.
He initially worked in restaurants with his father, before rejoining the media world in 2013, working in the local press before becoming a copywriter for international firms including Accenture, as well as within a well-known local marketing agency.
He joined the Olive Press as a self-employed journalist during the pandemic lock-down, becoming news editor a few months later.
Since then he has overseen the news desk and production of all six print editions of the Olive Press and had stories published in UK national newspapers and appeared on Sky News.

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