US EditionEIB Loans €450m to EWE for Grid Expansion in Germany
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EIB loans €450m to EWE for grid expansion in Germany
The long-term credit facility was finalised at an event attended by German federal government ministers, project partners and stakeholders. Image courtesy EIB. The European Investment Bank (EIB) has loaned €450 million ($530 million) to Germany’s EWE to expand the power grid in Lower Saxony. EWE, a German energy and infrastructure company, will use the financing to lay over 2,600km of new underground power lines and construct and modernise more …
Germany: Largest EIB financing for EWE – over 2,600 km of new underground power lines and more than 1,100 substations for Lower Saxony’s energy transition
(Credit: Unsplash) This article is published in association with European Investment Bank. The European Investment Bank (EIB) and EWE AG announce the largest EIB loan that EWE has ever received at a ceremony marking the 25th anniversary of the EIB’s Berlin office. A long-term credit facility of up to €450 million was finalised at an event attended by German federal government ministers, project partners and stakeholders. This will support invest…
More than 2600 kilometres of underground power lines are to be financed with the money. Overall, the loan enables the energy supplier to invest more than 700 million euros by 2028.It is the largest financing of the European Investment Bank (EIB) for the North German energy supplier EWE: Both sides agreed in Berlin a long-term credit framework of up to 450 million euros.This would allow EWE to invest a total of more than 700 million euros in the …
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