Iberdrola España and EVE strengthen the Labraza wind farm with €29 million in green financing from the EIB

The facility, located in Álava, will be the first wind farm to enter operation in the Basque Country since 2006.
It will generate nearly 100,000 MWh of locally produced, competitive and clean energy each year, enough to supply 75,000 people.
The 40 MW project will involve a total investment of €59 million and create around 100 jobs during construction.
The EIB financing will enable Iberdrola España and EVE to advance electrification and strengthen energy security in the Basque Country.

Onshore wind energy

Wind turbines in a wind farm at sunset over a mountainous landscape.

Labraza wind farm

Iberdrola España and the Basque Energy Agency (EVE) have reinforced their commitment to the Labraza wind farm with the signing of a €29 million green loan from the European Investment Bank (EIB).
The financing will accelerate the development of a key infrastructure project for electrification, strengthening the Basque Country's energy autonomy and security while also boosting industrial activity, job creation and the region's competitiveness.

The Labraza wind farm, located in the municipality of Oion in Álava, will be the first wind farm to become operational in the Basque Country since 2006. The project represents an investment of €59 million and will act as a catalyst for the Basque wind energy sector and its supply chain.

The project, which has been declared to be in the public interest by the Department of Territorial Balance and Spatial Planning of the Provincial Council of Álava, will hve an installed capacity of 40 MW and generate nearly 100,000 MWh of clean energy each year. This is enough to supply 75,000 people and avoid the emission of approximately 16,300 tonnes of CO₂ annually.

The development of the wind farm will create around 100 jobs, primarily for local workers, during the construction phase, and will deliver positive economic impacts and benefits for nearby municipalities and businesses.

The construction of the wind farm will provide local councils with an initial income of around €1.2 million at the start of the works, followed by recurring annual revenues of approximately €230,000 through taxes and concession fees.

In addition, mechanisms have been introduced to encourage community investment, including a crowdlending scheme that enables local people to invest directly in the project, as well as competitive-priced power purchase agreements (PPAs) with local businesses, providing a valuable advantage for companies in the area.

Iberdrola España and EVE strengthen the Labraza wind farm with €29 million in green financing from the EIB

Labraza wind farm, co-owned by Iberdrola España, reaches major milestone with arrival of first turbine blades

Iberdrola España and EVE strengthen the Labraza wind farm with €29 million in green financing from the EIB

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