Intended to invest 688 million euros to support the development of European wind
The European Investment Bank (EIB) will invest 688 million euros to support the development of Ac Powered Solar System new wind and solar energy in Europe.
The European Union bank recently stated that the approved funds will be used for 11 wind farm projects in Poland with a total power generation of 380 MW, 3 solar projects in Greece with a total capacity of 230 MW, and 7 projects in Spain with a total capacity of 253. Megawatts.
EIB added that the other two plans will expand investment in onshore wind and solar projects in Europe and provide simplified financing for small-scale energy efficiency programs.
The new support for renewable energy is part of the bank’s newly approved 3.7 billion euro financing, which will be specifically used to invest in transportation, hospitals and schools, and sustainable cities after the COVID-19 pandemic to increase economic resilience .
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