Summary sheet
The project will support the promoter’s planned research, development and innovation (RDI) activities in Spain, covering technologies, products and services primarily in the areas of renewable energy generation, railway traction and electromobility, as well as energy transmission and distribution.
The aim is to develop solutions to support the energy transition for a more sustainable energy generation, transmission, distribution, and consumption.
The Project is in line with the InvestEU objective of "Research, Development and Innovation".
The Project supports Europe's broader energy transformation goals by accelerating the transition towards a more sustainable, flexible, and low-carbon energy landscape. It is aligned with several of the Bank's strategic policy goals, including innovation, climate action, digitalisation; it also contributes directly to TechEU core strategic objectives and to RePowerEU.
The financing of this Project supports activities that generate positive knowledge, technology, and environmental externalities.
The Promoter's RDI investments are essential to strengthen its long-term competitiveness. The Promoter's experienced management and proven R&D capabilities will help implement a sound and sustainable Project, integrating positive environmental and social dimensions, contribute to address and mitigate market failures, and through its additionality, contribute to the Bank's policy objectives.
The Promoter greatly values the EIB's tailored and flexible financing terms, which support the rollout of its R&D strategy. Moreover, the EIB loan extends the Promoter's average debt maturity and sends a strong signal regarding the Project's robustness and quality, helping improve future funding terms for Ingeteam from commercial banks.
The Project in its proposed scope could not have been carried out (or not to the same extent) without InvestEU support.
The project concerns RDI activities that are not listed in any of the Annexes of the Environmental Impact Assessment (EIA) Directive 2011/92/EU (amended by the Directive 2014/52/EU). The environmental details will be verified during the project appraisal.
The promoter has been assessed by the EIB as a private company not subject to EU rules on public procurement or concessions. However, should the EIB conclude during project appraisal that the promoter is subject to EU public procurement legislation, the European Commission will be duly informed and the promoter will be required to comply with those rules.