Al-Sisi: Cairo to host Gaza reconstruction conference in November    PM Madbouly chairs meeting on public-private partnerships in tourism    Egypt launches project to upgrade export environment, streamline port procedures    Gulf investors turn to Egypt's real estate market as strategic gateway for growth    At Aswan Forum, Egypt's FM urges reform of UN Security Council, finance bodies    Tensions rise in Gaza as Israel violates ceasefire agreement    Egypt, WHO sign cooperation strategy to strengthen health system through 2028    EHA, Arab Hospitals Federation discuss cooperation on AI, sustainable healthcare    Egypt's FM joins Sahel region roundtable at Aswan Forum    Egypt successfully hosts Egyptian Amateur Open golf championship with 19-nation turnout    Africa can lead global recovery, Egypt's Sisi tells Aswan Forum    From Impression to Analysis: What International Performance Indicators Reveal about Egypt    Egyptian pound edges up slightly against dollar in Sunday midday trading    Supply Minister: No change in subsidised bread price amid diesel hike    Health ministers adopt 'Cairo Call to Action' to tackle breast cancer across Eastern Mediterranean    Egypt, India hold first strategic dialogue to deepen ties    Egypt: Guardian of Heritage, Waiting for the World's Conscience    Egypt, Qatar sign MoU to boost cooperation in healthcare, food safety    Egypt, UK, Palestine explore financing options for Gaza reconstruction ahead of Cairo conference    Egypt will never relinquish historical Nile water rights, PM says    Al Ismaelia launches award-winning 'TamaraHaus' in Downtown Cairo revival    Al-Sisi, Burhan discuss efforts to end Sudan war, address Nile Dam dispute in Cairo talks    Egypt's Sisi warns against unilateral Nile actions, calls for global water cooperation    Egypt unearths one of largest New Kingdom Fortresses in North Sinai    Egypt unearths New Kingdom military fortress on Horus's Way in Sinai    Egypt Writes Calm Anew: How Cairo Engineered the Ceasefire in Gaza    Egypt's acting environment minister heads to Abu Dhabi for IUCN Global Nature Summit    Egyptian Open Amateur Golf Championship 2025 to see record participation    Cairo's Al-Fustat Hills Park nears completion as Middle East's largest green hub – PM    El-Sisi boosts teachers' pay, pushes for AI, digital learning overhaul in Egypt's schools    Syria releases preliminary results of first post-Assad parliament vote    Karnak's hidden origins: Study reveals Egypt's great temple rose from ancient Nile island    Egypt resolves dispute between top African sports bodies ahead of 2027 African Games    Egypt aims to reclaim global golf standing with new major tournaments: Omar Hisham    Germany among EU's priciest labour markets – official data    Paris Olympic gold '24 medals hit record value    It's a bit frustrating to draw at home: Real Madrid keeper after Villarreal game    Russia says it's in sync with US, China, Pakistan on Taliban    Shoukry reviews with Guterres Egypt's efforts to achieve SDGs, promote human rights    Sudan says countries must cooperate on vaccines    Johnson & Johnson: Second shot boosts antibodies and protection against COVID-19    Egypt to tax bloggers, YouTubers    Egypt's FM asserts importance of stability in Libya, holding elections as scheduled    We mustn't lose touch: Muller after Bayern win in Bundesliga    Egypt records 36 new deaths from Covid-19, highest since mid June    Egypt sells $3 bln US-dollar dominated eurobonds    Gamal Hanafy's ceramic exhibition at Gezira Arts Centre is a must go    Italian Institute Director Davide Scalmani presents activities of the Cairo Institute for ITALIANA.IT platform    







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EIB, BNZ fund 17 new solar plants
Published in Amwal Al Ghad on 18 - 09 - 2024

The European Investment Bank (EIB) and BNZ have finalised a €166 million loan to fund the installation of 17 solar photovoltaic plants across Spain, Italy, and Portugal.
This loan marks the first tranche of a €500 million financing package approved by the EIB to support its ambitious plan to deploy 1.7 GW of solar power in Southern Europe by the end of 2026.
The new solar plants will generate green energy equivalent to the annual consumption of over 390,000 households, with most installations planned for cohesion regions, where per capita income is below the EU average.
This initiative underscores the EIB's commitment to regional economic growth and convergence.
The project aligns with the EIB's climate action goals and its role as 'The Climate Bank,' as outlined in its 2024-2027 Strategic Roadmap.
Alessandro Izzo, EIB Director of Equity, Growth Capital, and Project Finance, emphasised that this investment supports Europe's energy transition, enhances energy security, and reduces dependency on fossil fuel imports.
Supported by InvestEU, the project also contributes to the European Green Deal and the REPowerEU plan, which aim to boost energy efficiency and increase renewable energy production.
Attribution: The European Investment Bank (EIB)
Subediting: M. S. Salama


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