Iberdrola SLL

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The proposed investment consists of an 8-year green and sustainability-linked corporate loan of up to €300 million to Iberdrola Financiación, S.A.U. (the “ Borrower” or the “Company”), a wholly owned subsidiary of Spanish integrated utility Iberdrola, S.A. (“Iberdrola” or the “Sponsor”) (https://www.iberdrola.com), to finance or refinance renewable energy projects in emerging markets. The company is the vehicle through which Iberdrola finances all its operations (except in the U.S and Brazil).Iberdrola is the largest European utility and one of the five largest in the world by market capitalization, operating across all segments of the energy value chain. The Iberdrola group operates in multiple regions of overlap with IFC, including Europe, Asia Pacific, Africa, and Latin America. Assets developed in emerging markets (excluding Brazil and Mexico), including Poland, are owned and managed by Iberdrola Energía Internacional (“IEI”), a wholly-owned subsidiary of Iberdrola.The proceeds of IFC’s financing will support investments in select renewable energy sub-projects located within Poland, Morocco, Vietnam, and potentially other emerging countries, which meet specific pre-determined IFC eligibility criteria (that include the potential to develop solar [including battery storage], onshore wind, and green hydrogen sub-projects; however, exclude sub-projects in nuclear energy, offshore wind, hydropower, and thermal energy). The IFC loan is expected to be committed in several tranches: (i) a first tranche of up to €[150] million for three identified onshore wind assets in Poland (as listed below); and (ii) additional tranches of up to €[150] million for other renewable energy projects yet to be determined, meeting IFC’s eligibility criteria. Sub-ProjectTypeCapacityStageCountryWolka DobrzynskaOnshore Wind35 MWCommissioningPolandPoldasekOnshore Wind15 MWCommissioningPolandKorytnica IIOnshore Wind50.4 MWOperationalPoland