Spanish giant Iberdrola has reportedly raised a record €5.3bn (6.5bn) green loan that could finance energy efficiency and renewables projects.

Green loans are governed by the same principles as green bonds, which are a much larger market, but their goal is the same – to finance clean energy.

Iberdrola is said to be in the market with this multi-billion-euro amendment and extension of an existing loan, Reuters reporter citing banking sources.