The European Investment Bank (EIB) has approved a €288 million loan for Dublin Airport to improve its energy efficiency.
The loan covers near half of the project’s total cost of €627 million.
The money will be used to install a network of surface water collection points in an upgrade to both Terminals 1 and 2. It will also support the construction of a photovoltaic solar farm, the installation of electric car charging points and pay for the acquisition of a fleet of zero-emission vehicles.
The funding will ensure Dublin Airport meets “the goals of existing and future regulations on the electrification of airport operations, building efficiency and waste water quality”, according to the EIB.
The upgrade work must be carried out in compliance with aviation safety standards and security requirements.
The bank said the project is aligned with EU environmental legislation and is expected to contribute significantly to climate action and sustainability goals.
The European Investment Bank is the lending arm of the European Union. All EU member states have shares in the EIB. Its three largest shareholders, France, Germany and Italy each hold €46 billion. Ireland has a contribution of €1.6 billion making it the 16th largest shareholder.
31.9 million passengers passed through Dublin Airport last year. DAA plc, the semi-state airport company which operates both Dublin and Cork airports, has promised to “accelerate” climate and sustainability related ambitions, including achieving net zero emissions by 2050.