EDP Renováveis (EDPR) is receiving a total of €112 million (£100m) to finance the construction and operation of two onshore wind farms in Portugal.
They will have a total capacity of 125MW – Tocha II with a 33MW capacity and Sincelo with a capacity of 92MW – and will be located in the districts of Coimbra and Guarda.
The European Investment Bank (EIB) is providing €65 million (£58m) and BPI is granting an additional €47 million (£42m) for the projects, which are expected to create around 560 jobs during the implementation phase.
Once operational, the wind farms will support Portugal’s goal for 47% of renewable sources in final energy consumption by 2030 as well as the EU Commission’s binding target of having at least 32% of final energy use from renewables by 2030.
Rui Teixeira, EDPR interim CEO said: “At EDP Renováveis we are pleased to count with the support of the European Investment Bank (EIB) and Banco BPI to the development of new projects that will contribute to Portugal’s achievement of its Energy and Climate Plan targets, the European Commission’s targets and also to the creation of more than half a thousand jobs.
“This project reinforces our commitment with the Portuguese renewables sector and with the improvement of the quality of life of current and future generations. It also enhances our key role as a world leader in the renewable energy sector.”