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Iberdrola signs an environmental loan with BBVA

The energy company Iberdrola signed a loan of 2,500 million euros with environmental goals and related to the world’s water footprint.

This type of loan is known as a water footprint, which is of particular interest to companies that use water intensively in their production processes, such as those operating in energy, food and beverage, agriculture, textiles or packaging, among others. others.

24 financial companies participated in the loan and BBVA was the authorized bank for the operation.

The loan is for five years with the option to extend it for two additional years. According to Iberdrola, financing costs are at historic lows and at similar prices to the last two operations carried out in March 2019 and April 2021.

The indicators that will be taken into account for Iberdrola will be water use in energy production as they have a 20% reduction target by 2023 and the second indicator is the CDP Water score, which assesses the communication, awareness and management of water risks, as well as best practices.

With this action, Iberdrola continues its plan to maintain an adequate liquidity position of 21,000 million euros and will ensure that more than 90% of its debt is linked to sustainability criteria.

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