Spain: EIB provides EUR 151m in Juncker Plan financing for investment set to support innovation, job creation and energy efficiency
The European Investment Bank (EIB) today signed five agreements making it possible to provide EUR 151m for investment in innovation in several sectors of the Spanish economy, such as pharmaceuticals, transport and the automotive industry. Part of this financing will be used to support innovative midcaps with the goal of creating jobs in convergence regions. The EIB has also granted a loan for renovating buildings to cut their energy consumption and make them more efficient. With these objectives, the EU bank will help finance the investments of Axiare, Batz, INCARLOPSA, Laboratorios Farmacéuticos Rovi and Talgo. All of these projects are supported by the European Fund for Strategic Investments (EFSI), the central pillar of the Investment Plan for Europe (commonly known as the Juncker Plan).
“The agreements signed today show the important role that the Investment Plan for Europe is playing to boost productive investment in Spain. The EIB's participation is crucial for ensuring that businesses from a very diverse range of sectors have access to competitive long-term financing for their investments,” commented EIB Vice-President Román Escolano. “Since the launch of the Juncker Plan in late 2015, the EIB has approved 70 operations within its framework in Spain, for a total financing volume of over EUR 5.57bn.”
European Commissioner for Climate Action and Energy Miguel Arias Cañete made the following comment on the agreements: “Juncker Plan investments in various sectors of the Spanish economy not only create jobs and drive growth, but also show that economic growth and combating climate change go hand in hand. Strategic investments in energy efficiency in the transport sector, buildings, and other sectors benefit our citizens, our businesses and our planet.”
Supporting innovation in Spain
The EIB has granted a EUR 45m loan to Laboratorios Farmacéuticos Rovi to finance its RDI programme focusing on technologies for the administration and extended release of medication, including pre-clinical development and clinical trials that could help develop future treatments to fight cancer and nervous system diseases. In concrete terms, the Spanish company specialised in researching, developing and marketing proprietary pharmaceuticals will conduct the research needed to market its new products. The investments will be made over the next three years in RDI centres spread across the regions of Madrid and Andalusia.
Again with the goal of supporting innovation, the EIB has signed a EUR 30m loan with Talgo to facilitate its investments into the technological development of high-speed trains, making it possible to improve their safety, comfort and energy efficiency. The project financed by the EU bank will also focus on commuter trains: a major portion of the investment will centre on developing Talgo's new prototype for the electric trains for short and medium-length journeys segment. The implementation of this RDI programme will enable Talgo to offer new products, speed up its expansion outside Spain and create jobs.
The EIB is also providing Investment Plan for Europe support to Batz. Part of the Mondragón Corporation, the company has been granted a EUR 25m loan for its innovation and growth strategy centred on the development of technologies for designing innovative products, with the aim of manufacturing lighter and more aerodynamically efficient vehicles to cut CO2 emissions. The project will also have a positive impact on job creation, enabling the company to reach 2 000 employees in 2020.
Creating jobs in convergence regions
Industrias Cárnicas Loriente Piqueras SA (INCARLOPSA) has signed a EUR 35m loan with the EIB to finance an expansion of its production capacity. The EIB financing will enable it to modernise its plants in Tarancón and Corral de Almaguer. By deploying new technologies on its production line, INCARLOPSA will be able to optimise its energy efficiency and improve the working conditions of its employees via improved automation of its production processes. The new investment will improve checks on the application of animal hygiene and safety protocols, as well as the traceability of all of its products. The project will make it possible to create 1 000 jobs in its factories in Castilla La Mancha during the implementation phase.
Energy efficiency in buildings
With the aim of combating climate change, the EIB has provided a EUR 16m loan to Axiare Patrimonio to improve the availability of energy efficient buildings on the Spanish market. This is the first operation of its kind that the EIB has signed in Spain under the loan programme created to finance improved energy efficiency in buildings. Following renovation, heating, ventilation systems, air conditioning and lighting will adhere to energy standards making it possible to optimise their consumption, promote the application of renewable energies and cut the CO2 emissions of the buildings.