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					</table><p><a href="https://www.solaria.com/" target="_blank" rel="noopener">Solaria</a>, a U.S.-headquartered solar equipment manufacturer and installer, has secured €1.7 billion (~$1.8 billion) in financing from the European Investment Bank (<a href="https://www.eib.org/en/index" target="_blank" rel="noopener">EIB</a>) through the InvestEU program. The financing will support the development of approximately 120 solar photovoltaic power projects, primarily in Spain, Italy, and Portugal, with a combined installed capacity of 5.6 GW.</p>
<p>Solaria&#8217;s project is underpinned by the InvestEU program, a financial initiative to catalyze additional investments totaling more than €372 billion (~$394.3 billion) from 2021 to 2027.</p>
<p>The company said by providing the equivalent of the annual electricity demand for approximately 2.5 million households and curbing greenhouse gas emissions by approximately 3 million tons of CO2 annually; the project would significantly contribute to the EU&#8217;s green transformation.</p>
<p><strong>Long-Term Financing </strong></p>
<p>The transaction involves a long-term project finance structure encompassing several loans, allowing financial institutions to participate within the financing framework.</p>
<p>The first of these loans, amounting to €278 million (~$294.6 million), has already been signed and will support the construction of solar photovoltaic power projects with a total capacity of approximately 1.08 GW.</p>
<p>More than one-third of the installed capacity from Solaria&#8217;s projects will be situated in less developed regions with a GDP per capita below 75% of the EU average. This initiative is projected to stimulate economic growth in these areas and generate an estimated 11,100 jobs annually during the construction phase, as estimated by the EIB.</p>
<p>The financing provided by the EIB is closely aligned with the REPowerEU Plan, which seeks to reduce Europe&#8217;s dependence on fossil fuel imports, enhance energy efficiency, and boost renewable energy production.</p>
<p>Solaria&#8217;s President, Enrique Díaz-Tejeiro, highlighted its pivotal role in accelerating the energy transition across Spain, Italy, and Portugal. He affirmed that with a roadmap target of achieving 6.2 GW by 2025, Solaria is set to become a significant contributor to the EU&#8217;s renewable energy landscape.</p>
<p>Recently, EIB and Spain-based independent power producer Iberdrola <a href="https://www.mercomindia.com/iberdrola-1-billion-eib-build-22-renewable-projects" target="_blank" rel="noopener">signed</a> a loan agreement worth €1 billion (~$1.07 billion) to build 22 renewable energy projects with an installed capacity of 2.2 GW.</p>
<p>Earlier this month, EIB Group <a href="https://www.mercomindia.com/eib-50-billion-clean-energy-manufacturing-eu" target="_blank" rel="noopener">approved</a> raising the funding volume for clean energy projects developed under the REPowerEU and Green Deal Industrial Plan by 50% to €45 billion (~$50.28 billion).</p>


Solaria Receives €1.7 Billion Financing Boost from EIB’s InvestEU

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