Basque Wind Farm Financing

Iberdrola España and the Basque Energy Agency secured a €29 million green loan from the European Investment Bank to advance the Labraza wind farm, the first wind project expected to become operational in the Basque Country since 2006. The €59 million project will have an installed capacity of 40 MW and generate nearly 100,000 MWh of clean energy annually, enough to supply 75,000 people and avoid approximately 16,300 tonnes of CO₂ emissions each year.

Construction will create about 100 local jobs, while local councils will receive an initial €1.2 million payment followed by recurring annual revenues of roughly €230,000 through taxes and concession fees. The project also includes a crowdlending scheme that allows local residents to invest directly, alongside competitively priced power purchase agreements for nearby businesses.

The Labraza wind farm shows how combining green financing with community investment mechanisms can strengthen regional energy autonomy while supporting local economic development and industrial competitiveness.

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