EIB provides 393 mm Euro to Endesa to upgrade Spanish power grid

Mar 04, 1999 01:00 AM

The European Investment Bank said it has lent € 393 mm, or P 66 bn to Endesa for the upgrading and expansion of those power grids in Spain and the Canary and Balearic Islands served by the Endesa Group.
The project will increase transformer capacity by around 11,000 MW and add a further 17,000 km of cable to the existing network, the EIB said.
"The project will serve to increase existing power distribution capacity by around 5 % and to cope with anticipated growth in demand," it said.

Source: Agence France Press/Financial Times
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