Financial close of project ‘Lanuza’

We are pleased to share the financial close of project ‘Lanuza’ of sponsor alfanar.

Spain: Climate action – EIB to finance construction of 21 wind farms

Promoting renewable energies is one of the EU bank’s priorities as the world’s biggest financer of climate action projects. Once they become operational, the 21 wind farms will help cut greenhouse gas emissions in Spain and expand the production of clean energy using renewable sources. The construction phase will require the employment of 1 900 people, and 170 people will need to be taken on permanently to operate the wind farms.

Alfanar Global Development CEO Jamal Wadi: “The financing of the first phase of Alfanar’s portfolio of projects in Spain is a major milestone in our strategic plan, which will enable the implementation of new projects as part of our partnership with the EIB. We are delighted to have consolidated this agreement with the EIB following some very hard work over the last year.”

Alfanar Global Development General Manager Emmanuel Ozaez said: “Over the next few years, Spain is set to be a European leader in the energy transition to a technology mix where renewable power generation is the central pillar of the energy industry. Alfanar has gathered sound human and material resources in Spain, enabling us to implement a project portfolio of up to 3 GW for the 2019-2021 period developed, financed, built and operated by Alfanar and other strategic partners like the EIB.”