The European Investment Bank (EIB) gave Spanish energy company Iberdrola €25.9 million to build a wind farm in central Greece. The money will fund the 22.5 MW Gatza wind farm in the municipalities of Orchomenou and Lokron. The deal splits the financing two ways: €10 million comes from EIB’s own money and €15.9 million from the EU’s Recovery and Resilience Fund. Once this project starts running, Iberdrola will have 443.5 MW of total capacity in Greece. This is the first deal between EIB and Rokas, Iberdrola’s Greek branch.
Greece wants more renewable energy, and wind power is a big part of that plan. The country needs to cut its dependence on fossil fuels and boost energy security. The Recovery and Resilience Fund targets green infrastructure projects across EU countries. Iberdrola already runs wind farms in Greece and has built up its market presence. The company also has 20 MW running in nearby Cyprus.
This new financing helps Iberdrola become one of Greece’s biggest wind energy players. The Gatza project sits in central Greece where wind conditions work well for power generation. EIB has been funding renewable energy projects across Europe to meet climate goals. The bank sees these investments as key for the continent’s energy independence. Iberdrola’s Greek operations through Rokas let the Spanish company expand beyond its home market.
The deal strengthens ties between Iberdrola and EIB for future energy projects. The financing helps Greece meet EU renewable energy targets while creating local jobs. Wind farms like Gatza cut carbon emissions and provide clean electricity to Greek homes and businesses. The project also helps Europe reach its goal of energy self-sufficiency. Both groups see this as a model for similar green financing deals across the region.
