EIB Provides Loan Euro 300 Million to Banco Santander for 600MWp Solar Projects in Brazil
The EU has already invested in a number of other solar projects through the entryway, comprising an 85MW PV plant in Namibia and a 19MW PV plant in Niger.
July 20, 2023. By EI News Network
Banco Santander will utilise the investment to fund the installation of what the EIB calls a series of small-scale self-consumption solar projects, which will be installed on homes and on the allowance of small and medium businesses.
The EU has already invested in a number of other solar projects through the entryway, comprising an 85MW PV plant in Namibia and a 19MW PV plant in Niger.
The EU Commission plans to invest Euro 300 billion in such projects between 2021 and 2027, and successful investments in the energy sector especially will help nations within the bloc reach the clean energy targets set out in the Paris Agreement.
Ricardo Mourinho Félix, EIB vice-president, stated, “I’m very pleased to announce this project with Banco Santander (Brasil) that will enable private sector investments in renewable energy, reduce carbon emissions and air pollution, and support additional renewable generation capacity in Brazil.”
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