Gamesa obtains EUR 260 million loan for RDI

The European Investment Bank (EIB) today granted a EUR 260 million loan to Gamesa to support its research, development and innovation (RDI) activities in the field of wind turbine generators. This is the EIB’s third loan to Gamesa for RDI in the past eight years.

EIB Vice-President Magdalena Álvarez Arza said that “the EIB’s commitment to RDI – especially in a sector with such great potential and importance as renewables – is key to ensuring a secure, sustainable and competitive energy supply for Europe. The Bank’s contribution therefore goes beyond providing long-term finance in the current credit crunch. With this loan we are investing in the future and laying the foundations for the development of new products and technologies that will bring quality growth in the years ahead.”

“Innovation in the wind sector remains key to the development of more competitive products and services geared to ever more challenging demand. This EIB loan on favourable terms will enable us to carry out our ambitious product development programme and meet the present and future needs of our communities with cutting-edge technologies”, added Ignacio Martín, Chairman and CEO of Gamesa.

This EIB loan will support Gamesa’s RDI investment programme aimed at designing and developing on and offshore wind platforms with greater capacity and a lower energy costs. The project will aid the development of an important renewable energy technology and strengthen Gamesa’s capacity for innovation and competitiveness. The programme will be carried out over the next three years.

The investments financed by this loan meet the EIB and the EU’s objectives of ensuring a sustainable, competitive and secure energy supply and fostering businesses’ technological capacity. The EIB is heavily involved in financing investments aimed at increasing Europe’s economic competitiveness and supports RDI projects – especially in the energy sector – under its climate action programme.