Renewables Now
Summary
The European Investment Bank (ElB) has agreed to provide a EUR-70-million (USD 71.3m) loan to German municipal utility Stadtwerke Reutlingen to support electricity and district heating network upgrade in the area so as to allow higher adoption of renewable and clean power.
The financing will be used to modernise and digitalise the electricity network in Reutlingen to facilitate the integration and distribution of wind and solar power as well as to expand the local district heating network to enable consumers to connect heat pumps and chargers, a press statement says.
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