EIB and IM2 Energía Solar join forces for building and operating PV power plants in Spain

EIB Vice-President Emma Navarro and IM2 Energía Solar CEO Enrique Selva

The European Investment Bank (EIB) and Spanish multinational IM2 Energía Solar signed an agreement to promote the development of renewable energy in Spain. The EIB is set to provide €26 million ($29 million) to support the »Solar Storm 200« project, which includes the construction of PV plants. The agreement is supported by the European Fund for Strategic Investments (EFSI), the main pillar of the Investment Plan for Europe (the Juncker Plan).
The 15 new photovoltaic power plants will have a total capacity of 218 MW and will be located in four autonomous communities: Extremadura, Andalusia, the Valencia Region and Murcia. 400 people will be employed for their construction and a further 20 permanent jobs will be created. The operation has an innovative structure that will see the EU bank investing in a platform for developing renewable energy projects for the first time. This agreement will make the EIB an equity partner of »Solar Storm 200«, the sustainable investment vehicle via which IM2 has planned the development and construction of this infrastructure in Spain. According to the organization, »this is a flagship project for IM2, a company with 16 years of experience in the photovoltaic sector with offices in Spain and Chile, and that works with both investment projects and high-power industrial self-consumption projects.«

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