European Investment Bank, EIB boosts clean energy financing in support of REPowerEU Plan, hydrogen included.
The European Investment Bank Group (EIB Group) will support the REPowerEU Plan with an additional €30 billion in loans and equity financing over the next five years.
The additional funds from the EIB Group (European Investment Bank, European Investment Fund) will be directed to renewables, energy efficiency, grids and storage, electric-vehicle charging infrastructure, and breakthrough technologies, such as low-carbon hydrogen.
The package of new, targeted financing approved by the EIB’s Board of Directors is expected to mobilise up to €115 billion of new investment by 2027, thus making a substantial contribution to the REPowerEU objective of ending dependency on Russian fossil fuels.
It is a supplementary envelope, on top of the…