Greece: EIB signs with Iberdrola a €25.9 million green financing to develop wind energy

This article is published in association with European Investment Bank.

With this new investment, Iberdrola will reach 443.5 MW in Greece, consolidating its position as one of the largest wind energy players in the country.

The operation includes a €10 million loan from EIB own resources and a further €15.9 million financing provided by the European Union’s Recovery and Resilience Fund.

The European Investment Bank (EIB) has signed €25.9 million in green financing to the Iberdrola Group to support the development of the Gatza wind farm, with 22.5 MW of capacity, located in central Greece (municipalities of Orchomenou and Lokron, Viotia and Fthiotida).

Once this project is operational, Iberdrola will have a total installed capacity of 443.5 MW in Greece (and 20MW in Cyprus), consolidating its position as one of the top largest players in wind energy in the country.

This operation, the first signed by the bank with Rokas, Iberdrola’s subsidiary in Greece, includes a €10 million loan from EIB own resources and a further €15.9 million financing provided by the European Union’s Recovery and Resilience Fund.

This agreement represents a significant step forward in Iberdrola’s efforts to promote strategic infrastructure for electrification, energy security and self-sufficiency in Europe. It also strengthens the EIB’s role as a catalyst for the continent’s energy transition.

The relationship between Iberdrola and the European Investment Bank (EIB) has been consolidated as a fundamental alliance for promoting energy infrastructure that advances electrification, in order to achieve energy security in Europe and, therefore, the competitiveness and development of the continent.

Background information

About EIB

The European Investment Bank (ElB) is the long-term lending institution of the European Union, owned by its Member States. Built around eight core priorities, we finance investments that contribute to EU policy objectives by bolstering climate action and the environment, digitalisation and technological innovation, security and defence, cohesion, agriculture and bioeconomy, social infrastructure, the capital markets union, and a stronger Europe in a more peaceful and prosperous world. 

The EIB Group, which also includes the European Investment Fund (EIF), signed nearly €89 billion in new financing for over 900 high-impact projects in 2024, boosting Europe’s competitiveness and security.   

All projects financed by the EIB Group are in line with the Paris Climate Agreement, as pledged in our Climate Bank Roadmap. Almost 60% of the EIB Group’s annual financing supports projects directly contributing to climate change mitigation, adaptation, and a healthier environment.   

Fostering market integration and mobilising investment, the Group supported a record of over €100 billion in new investment for Europe’s energy security in 2024 and mobilised €110 billion in growth capital for startups, scale-ups and European pioneers. Approximately half of the EIB’s financing within the European Union is directed towards cohesion regions, where per capita income is lower than the EU average. 

About Iberdola

With a market capitalisation of more than €100B, Iberdrola is Europe’s largest electricity company and one of the two largest worldwide. The Group serves more than 100 million people worldwide and has a workforce of more than 44,000 employees and assets exceeding €160B. In 2024, Iberdrola recorded revenues of almost €50B and a net profit of €5.6B. The company contributes nearly €10.3B in taxes in the countries where it operates and supports more than 500,000 jobs among its suppliers thanks to purchases that exceeded €18B in 2024.

Since 2001, Iberdrola has invested more than €175B in electricity networks, renewable energy, and energy storage to contribute to the creation of an energy model based on electrification.

The company has approximately 1.4 million km of electricity networks in the United States (states of New York, Connecticut, Maine, and Massachusetts), the United Kingdom (Scotland, England, and Wales), Brazil (the states of Bahia, Rio Grande do Norte, Pernambuco, Sao Paulo, and Mato Grosso do Sul, as well as Brasilia), and Spain, as well as 57,000 megawatts (MW) of capacity worldwide, of which more than 45,000 MW are renewable.

Iberdrola already has 421 MW of operational renewable energy capacity in Greece. The company, which has been present in Greece since 2007 through its subsidiary Rokas, now operates wind and solar projects in the regions of Central Greece, Crete, Thrace, Western Macedonia, Thessaly, the Peloponnese, and the Dodecanese.