Iberdrola has secured a EUR 2.5bn credit line to boost its sustainable financing capacity, the company announces in a press release.

A total of 24 banks from different nations have entered into the agreement with the Spanish utility on the facility, which has a term of five years, but can be further extended by another two years.

”The cost of this operation is at historic lows for Iberdrola, with prices similar to those of its last operations of this type – in March 2019 and April 2021 – and demonstrates the support for Iberdrola despite the current volatility of the markets,” writes Iberdrola.

The credit facility is subject to two sustainability indicators: reduction of water consumption in power generation and a rating given to Iberdrola by independent agency CDP Water.

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