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European Investment Bank Pumps $5B Into Renewables and Distributed Grid Upgrades

August 7, 2017

Renewable energy projects from Western Europe to Southern India are set to benefit from a European Investment Bank financing package approved last month.

The bank, the world’s largest international public lending institution, earmarked €4.3 billion ($5.1 billion) for energy sector initiatives within a €12.4 billion ($14.7 billion) investment war chest covering 53 projects.

“These include onshore wind, hydropower and smart meter projects in Italy, energy efficiency, solar, wind and district heating projects in France, reinforcement and extension of natural gas distribution in Ireland and Spain, and financing of renewable energy in India,” said the EIB.

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