Iberdrola lands major loan for green projects

With a new deal, the Spanish energy major takes hold of more than one third of the emerging loan market.

Photo: iberdrola

Spanish energy company Iberdrola has secured billions of euros in a new loan to finance green energy projects, reports Reuters.

A group of banks has allegedly approved a loan to Spain's Iberdrola of EUR 5.3 billion. The "green loan" is quite large compared to green bonds, although the former is much less common.

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