European Investment Bank (EIB)

Greece begins construction of the Corinth–Kos subsea power link

Co-financing the project with a loan

Kos, like most Greek islands off the mainland grid, makes its own electricity by burning imported oil. On 9 November 2026, Greece's transmission operator signed a contract worth about €1.48 billion to reach the island by cable instead. The link is scheduled for completion in 2030.

Updated Yesterday

Alcazar Energy closes financing for two Red Sea wind farms

Built World

Lender providing about $152 million

Alcazar Energy Partners closed $436 million in debt on Nov. 9 for two wind farms on Egypt's Red Sea coast, moving the $626 million Niat and Rasgha projects into construction. The farms will have 500 megawatts of capacity and 100 Siemens Gamesa turbines, with commercial operation targeted for the end of 2028.

Updated 2 days ago

Canada and EU launch Alliance for the Future, name Canada first 'associate member'

Rule Changes

Signed a framework to lend into Canadian critical minerals

Canada and the European Union closed a two-day summit in Montreal on Oct. 30 by launching an "Alliance for the Future" and declaring Canada the bloc's first "associate member." The phrase has no legal basis in EU law and is contested by some member states. What does have text is a concluded Digital Trade Agreement, a lending framework for Canadian critical minerals, and Canada's entry into the EU's support loan for Ukraine.

Updated Nov 1

Construction begins on Portugal's Lisbon-Porto high-speed rail line

Built World

Providing €875 million in financing

Portugal started building its first high-speed rail line on October 12, 2026, with a 71-kilometer first section from Porto-Campanhã to Oiã. The full line is due to cut the Lisbon-Porto trip from about 2 hours 48 minutes to 1 hour 15 minutes by 2032.

Updated Oct 30

EU funds Latvian low-carbon cement factory

New Capabilities

Signed €40 million in financing for Cemvision's plant and research project in July 2026

The European Commission has selected Swedish cleantech company Cemvision for a grant of up to €27.5 million to build its first commercial-scale cement plant, in the Latvian port of Ventspils. It would make up to 500,000 tonnes a year of supersulfated cement. The process grinds and blends steel-industry slag with electricity instead of burning limestone.

Updated Oct 26