Iberdrola has signed with the Italian company Intesa Sanpaolo the first loan in the energy sector in Europe linked to the reduction of water consumption, in a financing operation amounting to 250 million euros over five years, reported the energy company.
Specifically, the operation includes an incentive linked to the achievement of circular economy objectives by which the group chaired by Ignacio Sánchez Galán undertakes to progressively reduce water use, which will not exceed the threshold of 420 cubic metres per gigawatt hour (GWh) by 2025.
Thus, if this target is met, Intesa Sanpaolo will apply a discount to the loan. If this is not the case, the cost of financing will be increased. The circular loan with Iberdrola represents the largest operation carried out in Spain in the framework of the Circular Economy programme of 6,000 million euros, launched by the transalpine financial institution in its business plan 2018-2021, reports Europa Press.