European Investment Bank and Iberdrola join forces to expand wind capacity and energy security in Greece

Bradi Bellini

(IN BRIEF) The European Investment Bank (EIB) has signed a €25.9 million green financing agreement with Iberdrola for the construction of the 22.5 MW Gatza wind farm in central Greece. The financing package includes €10 million from EIB resources and €15.9 million from the EU Recovery and Resilience Fund. Once operational, the project will raise Iberdrola’s installed capacity in Greece to 443.5 MW, consolidating its position as one of the country’s top wind energy producers. This marks the first EIB agreement with Rokas, Iberdrola’s Greek subsidiary, and strengthens the partnership between the EIB and Iberdrola in advancing electrification, energy security, and Europe’s green transition.

(PRESS RELEASE) LUXEMBOURG, 1-Oct-2025 — /EuropaWire/ — The European Investment Bank (EIB) has signed a €25.9 million financing agreement with Iberdrola to support the construction of the Gatza wind farm, a 22.5 MW project located in the municipalities of Orchomenou and Lokron (Viotia and Fthiotida) in central Greece. The deal marks the first collaboration between the EIB and Rokas, Iberdrola’s Greek subsidiary, and combines €10 million from the EIB’s own resources with €15.9 million from the European Union’s Recovery and Resilience Fund.

Once operational, the Gatza wind farm will bring Iberdrola’s total installed capacity in Greece to 443.5 MW (plus 20 MW in Cyprus), reinforcing its position as one of the leading players in the country’s wind energy sector. The new project consolidates the company’s role in driving forward renewable energy expansion in the region while contributing to the EU’s climate and energy objectives.

The agreement further deepens the long-standing relationship between the EIB and Iberdrola, which has evolved into a strategic alliance to promote clean energy infrastructure across Europe. By investing in projects such as Gatza, both partners are advancing electrification, enhancing energy security, and supporting the continent’s competitiveness in the face of global energy challenges.

This financing represents more than just the development of a single project: it is part of a broader effort to accelerate Europe’s transition toward sustainable power generation and greater self-sufficiency. With Iberdrola’s commitment to renewable growth and the EIB’s role as a catalyst for green investment, the partnership underscores the shared goal of strengthening Europe’s resilience and delivering on its climate ambitions.

About EIB

The European Investment Bank (ElB) is the long-term lending institution of the European Union, owned by its Member States. Built around eight core priorities, we finance investments that contribute to EU policy objectives by bolstering climate action and the environment, digitalisation and technological innovation, security and defence, cohesion, agriculture and bioeconomy, social infrastructure, the capital markets union, and a stronger Europe in a more peaceful and prosperous world.

The EIB Group, which also includes the European Investment Fund (EIF), signed nearly €89 billion in new financing for over 900 high-impact projects in 2024, boosting Europe’s competitiveness and security.

All projects financed by the EIB Group are in line with the Paris Climate Agreement, as pledged in our Climate Bank Roadmap. Almost 60% of the EIB Group’s annual financing supports projects directly contributing to climate change mitigation, adaptation, and a healthier environment.

Fostering market integration and mobilising investment, the Group supported a record of over €100 billion in new investment for Europe’s energy security in 2024 and mobilised €110 billion in growth capital for startups, scale-ups and European pioneers. Approximately half of the EIB’s financing within the European Union is directed towards cohesion regions, where per capita income is lower than the EU average.

About Iberdola

With a market capitalisation of more than €100B, Iberdrola is Europe’s largest electricity company and one of the two largest worldwide. The Group serves more than 100 million people worldwide and has a workforce of more than 44,000 employees and assets exceeding €160B. In 2024, Iberdrola recorded revenues of almost €50B and a net profit of €5.6B. The company contributes nearly €10.3B in taxes in the countries where it operates and supports more than 500,000 jobs among its suppliers thanks to purchases that exceeded €18B in 2024.

Since 2001, Iberdrola has invested more than €175B in electricity networks, renewable energy, and energy storage to contribute to the creation of an energy model based on electrification.

The company has approximately 1.4 million km of electricity networks in the United States (states of New York, Connecticut, Maine, and Massachusetts), the United Kingdom (Scotland, England, and Wales), Brazil (the states of Bahia, Rio Grande do Norte, Pernambuco, Sao Paulo, and Mato Grosso do Sul, as well as Brasilia), and Spain, as well as 57,000 megawatts (MW) of capacity worldwide, of which more than 45,000 MW are renewable.

Iberdrola already has 421 MW of operational renewable energy capacity in Greece. The company, which has been present in Greece since 2007 through its subsidiary Rokas, now operates wind and solar projects in the regions of Central Greece, Crete, Thrace, Western Macedonia, Thessaly, the Peloponnese, and the Dodecanese.

Media contact:

Elizabeth Zitouniati
e.zitouniati@ext.eib.org
+352 4379 – 71692

Press Office
press@eib.org
+352 43791

SOURCE: European Investment Bank