News
24 July 2018
EIB to part finance Douro Valley hydro project
In:
Renewable energy, Traditional energy
Region:
Europe
The European Investment Bank (EIB) has agreed a €650 million loan to Spanish electricity group Iberdrola to support the construction of the Douro Valley hydro project - three new hydropower plants (Alto Tamega, Daivoes and Gouvaes) and a pump storage plant - on the Tamega and the Torno rivers in northern Portugal.
With a total investment of around €1.5 billion, Iberdrola's new infrastructure will have a total capacity of 1158MW and will start operating in 2023.
