Santander inks €400m deal for green lending

Santander has signed an agreement with an EU bank to provide financing for businesses to invest in renewable energy. The deal will help Santander support new green energy projects in […]

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By Priyanka Shrestha

Santander has signed an agreement with an EU bank to provide financing for businesses to invest in renewable energy.

The deal will help Santander support new green energy projects in Spain, with an investment cost of at least €400 million (£358m).

In addition, the European Investment Bank (EIB) will take on a €200 million (£179m) participation in a Santander loan portfolio, covering renewable energy and infrastructure.

The EIB said the agreement was signed under an Investment Plan for Europe guarantee, which focuses on removing obstacles to investment, providing technical assistance to investment projects and making smarter use of new and existing financial resources.

The bank is also lending €200 million (£177m) for nearly zero-energy buildings in Sweden.