Naturgy will receive a loan of 700 million euros from the European Investment Bank (EIB) to adapt its electricity distribution networks in Spain, as announced yesterday by the company chaired by Francisco Reynés.
With this financial injection, Naturgy intends to promote its energy transition strategy based on the digitalization of its electrical network to contribute to the decarbonization objectives set by the European Union.
“It will contribute very significantly to Spain's progress towards the decarbonization of the economy, while reinforcing the guarantee of supply for all citizens,” said Reynés in the note issued by the company.
The EIB financing has been structured in two tranches. The first, endowed with 500 million euros, will contribute to the integration of renewable energies in distribution networks.
More than 75% of the total investments associated with this financing will be carried out in regions whose per capita income is less than 75% of the EU average, such as Castilla-La Mancha, Castilla y León or Galicia. These areas will also benefit from the creation of 5,000 jobs during the implementation phase.
