Iberdrola and IFC team up on renewable projects in emerging countries such as Poland, Morocco and Vietnam


Link Securities| The Spanish company and the International Finance Corporation, which belongs to the World Bank Group have announced their union to promote the energy transition in emerging countries, the financial portal bolsamania.com reported on Tuesday. Both institutions have launched an alliance to support clean energy and decarbonisation in different developing countries.

The agreement is structured in three pillars, according to IBE: (i) First, IFC will provide IBE with a $150-million green loan linked to sustainability targets to finance digitalisation and energy efficiency improvements in the electricity distribution networks operated by IBE’s subsidiary in Brazil, Neoenergia; ii) Second, IBE and IFC are exploring another green loan, linked to sustainability indicators, for the development of renewable energy projects in emerging countries such as Poland, Morocco and Vietnam; iii) Third, both institutions are exploring options for collaboration to support the development of new innovative clean energy projects in emerging countries, such as offshore wind generation and green hydrogen.

About the Author

The Corner
The Corner has a team of on-the-ground reporters in capital cities ranging from New York to Beijing. Their stories are edited by the teams at the Spanish magazine Consejeros (for members of companies’ boards of directors) and at the stock market news site Consenso Del Mercado (market consensus). They have worked in economics and communication for over 25 years.