Recurrent Energy has announced the successful financial close of a €50 million loan from the European Investment Bank (EIB). This loan will fund the development and construction of a solar energy portfolio in Italy.
The €50 million, 5-year term facility aligns with the EIB’s priorities on Renewable Energy, Climate Action, and Social and Economic Cohesion. This transaction reinforces Recurrent Energy’s leadership in Italy’s clean energy transition, boosting the country’s renewable energy capacity and supporting Europe’s goals for reduced emissions and increased energy independence. Ismael Guerrero, CEO of Recurrent Energy, commented, “We are excited to extend our banking relationship with such an entity as the EIB. This transaction is a pivotal step toward our goal of becoming one of the largest Independent Power Producers (IPPs) globally. It aligns with our commitment to fostering a more sustainable economy in Europe and beyond. We look forward to building a long-term relationship with the EIB to support our mutual objectives.”
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