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.”
Today, the European Investment Bank (EIB) and the European Commission signed an agreement that will make it possible to combine EU grants and long-term EIB financing for alternative fuels infrastructure projects. The agreement comes under the Alternative Fuels Infrastructure Facility (AFIF) and is part of the European Union’s Connecting Europe Facility (CEF) transport programme. It will make over €1.5 billion in EU grants available by the end of 2023 for alternative fuels infrastructure, including electric fast-charging and hydrogen refuelling stations on the TEN-T road network. In addition to the EIB, other private and public banks can also benefit from the facility.
The Board of Directors of the European Investment Bank (EIB) on Wednesday approved the cohesion orientation paper that sets out the new framework for the EIB’s cohesion action for 2021-2027. The Board, composed of representatives of all EU Member States, made more funding available for public and private sector projects in cohesion regions — those with a gross domestic product (GDP) per capita below the EU average. The decision also lays the foundation for increasing climate action and environmental lending in poorer regions, fostering innovation in cohesion regions and ensuring that EIB financing complements EU cohesion policy funds in the new seven-year EU budget. The EIB’s cohesion financing, advisory and fund management services aim to reduce regional disparities by supporting projects in the European Union’s poorer regions.
The Board of Directors of the European Investment Bank (EIB) today decided to accelerate targeted support for global climate adaptation and cohesion investment across Europe. It also approved a framework which calls for the respect by EU Bank financing beneficiaries to align with objectives of the Paris Agreement on climate, which aims at containing global warming under 1.5 C°.