European Investment Bank has first-hand knowledge of energy sovereignty projects

A technical team from the European Investment Bank (EBI) has travelled to Andorra to advance the evaluation of different projects in the field of energy transition proposed by the government that could be financed by the European bank. The delegation met yesterday with the Secretaries of State Landry Riba, David Fornet and Noelia Suker, and is still in Andorra today to get to know the projects in person.
This is the second time that the EIB has visited the country to deepen its understanding of the different projects of the FEDA investment program and to conduct field visits. The aim of the technical meeting was to advance cooperation with the EIB and to identify projects related to improving Andorra’s energy sovereignty that could easily receive European funding.
The partnership is part of Andorra’s collaboration with European institutions and is another step in diversifying international funding sources. The government said in a statement yesterday that it is “a unique possibility to finance public and private projects on preferential terms, which can significantly improve the country’s energy landscape and open the door to the financing of other projects”.
Andorra is the first small European country that is not a member of the European Union to work with the EIB, a fact the government attributes to “international validation work” done through membership of the International Monetary Fund (IMF), the bank’s development by the European Commission and engagement with the EU through the negotiations of the Association Agreement. “Without these steps, the country would not now have the option of obtaining financing from the EIB,” the statement said.
During the visit of BEI technicians to the country, several working meetings will be held in government and FEDA facilities, and they will also visit the hydroelectric power plant and the FEDA control center, as well as the Incles and FEDA thermal power plants Gonarda ETR. The delegation will be able to learn the details of the Grau Roig wind farm project and the solar park in the same area.