This loan will support the company’s aim of diversifying financing, which combines various sources: financial institutions, development banks such as the World Bank and European Investment Bank, the market and export credit agencies.
With this loan, Iberdrola says to have consolidated more than EUR 50 billion to date, of which nearly EUR 18.5 billion is tied to green bonds.
Located approximately 70 kilometres from shore in the southern North Sea, the 1.4 GW East Anglia Three was awarded Contracts for Difference (CfD) in July last year from the UK Government.
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The project will feature 95 Siemens Gamesa 14+MW wind turbines installed in the North Sea covering an area of 305 square kilometres.
East Anglia Three is planned to be fully operational in 2026 when it will generate enough power to supply 1.3 million homes with clean energy.
The wind farm is part of ScottishPower Renewables’ GBP 6.5 billion (around EUR 7.4 billion) East Anglia Hub project which also includes two other offshore wind farms: the 800 MW East Anglia One North and the 900 MW East Anglia Two .
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