Spain: EIB provides EUR 110m in Juncker Plan financing for SENER to support its R&D programme
The EIB loan will enable SENER to invest in new technologies and products in the renewable energy, space, infrastructure and transport, and marine engineering sectors.
The European Investment Bank (EIB) is granting a EUR 110m loan to Spanish multinational Ingeniería y Construcción SENER in support of RDI investment, with the aim of making the firm's technology stand out from the competition, boosting its global competitiveness in the design and development of new engineering solutions. Signed in Getxo (Bizkaia) by EIB Vice-President Román Escolano and SENER Director Jorge Unda, the loan was made possible by the support of the European Fund for Strategic Investments (EFSI). EFSI is the central pillar of the Investment Plan for Europe, known as the “Juncker Plan”.
SENER is a global leader in RDI for the development of high-technology projects, with notably multidisciplinary organisation and activities encompassing the entire production cycle. The innovation financing project funded by the EIB's contribution will enable the company to offer new engineering services and develop technologies in a wide variety of sectors.
Another main focus of the company’s RDI project will be space, an industry in which SENER has long experience. The EIB loan will be used to develop new satellites, design innovative space propulsion systems and improve Earth observation instruments. The project also includes investments for innovation in the marine engineering sector – enabling SENER to improve the capacity of its FORAN system, which it will use to meet future demand for boat design and construction across the world – as well as in infrastructure and transport.
The agreement is backed by the Investment Plan for Europe, which allows the EIB to finance projects that have a higher risk profile, owing to their structure or nature, but contribute to boosting growth and employment. SENER Ingeniería y Sistemas has 2 400 employees and the innovation investments financed by today’s loan will enable it to create new quality jobs, especially for scientists and engineers, during the project implementation phase.
At the signing ceremony, EIB Vice-President Román Escolano stated: “This EIB loan to SENER will help a Spanish company to make a highly important contribution to the development of European space technology and the design of new cutting-edge services in the renewable energy sector. The agreement also represents important support for research in Spain as a large number of universities and research centres are taking part in this project. In this way, the EIB is making a highly important contribution to fostering quality jobs in various sectors of Spain’s economy.”
European Commission Vice-President Jyrki Katainen, responsible for Jobs, Growth, Investment and Competitiveness, said: "Developing new technology in the space industry requires a commitment to sustained investment. The Commission's Space Strategy underlines the importance of promoting more private investment in this sector to ensure that Europe will remain a leading player in this evolving, competitive market. Today's agreement demonstrates that the European Fund for Strategic Investments can play an important role in supporting this effort.
The SENER Director said: “SENER is delighted to receive the backing of an organisation such as the EIB to support our continuing major innovation efforts in the energy, infrastructure and transport, aerospace, and marine engineering sectors. Over the next four years, as engineers, we will continue designing and building a safer, more efficient and more environmentally friendly future via ever-more advanced, state-of-the-art technologies that contribute to people's well-being.”