News

The European Investment Bank (EIB) has approved an $83 million loan for the Port of Bilbao, a key step in expanding its capacity and accelerating its electrification. The funding will support infrastructure upgrades and renewable energy initiatives, making maritime transport more sustainable and cost-efficient.

The loan will finance the second phase of the central breakwater expansion, enhance the port’s landside electricity grid, and enable the installation of renewable energy systems on-site. These improvements are expected to strengthen the port’s role in the Atlantic Corridor, part of the Trans-European Transport Network (TEN-T), and reduce reliance on carbon-intensive transport modes.

Once complete, the project will cut maritime transport costs, support the offshore renewable energy industry, and provide additional clean energy for port operations. The upgrades also reflect the EIB’s strategic priority to allocate at least half of its annual financing to climate action and environmental sustainability, consolidating its position as the EU Climate Bank.

The Port of Bilbao, which houses roro, cruise, and container terminals, is a vital hub for trade in the region. These improvements will enhance its competitiveness and support broader EU objectives for innovation, sustainability, and a just transition to climate neutrality.

With this project, the Port of Bilbao solidifies its position as a leader in green port initiatives, contributing to a more sustainable maritime sector in Europe.

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