If
approved,
the
EIB
loan
would
represent
about
half
the
total
cost
of
the
project,
which
is
being
jointly
developed
by
Spain’s
Iberdrola
via
its
ScottishPower
Renewables
subsidiary
and
Denmark’s
Dong
Energy.
Listing
West
of
Duddon
Sands
on
its
website,
the
EIB
says
any
final
decision
on
financing
is
subject
to
“appraisal
and
negotiation”.
In
January
the
EIB
–
the
development
bank
of
the
EU
–
granted
a
€500m
loan
to
the
renewable
energy
unit
of
German
utility
EnBW
for
its
Baltic
2
offshore
wind
project.
Work
has
already
started
on
West
of
Duddon…
