Search En menu ClientConnect
Search
Results
Top 5 search results See all results Advanced search
Top searches
Most visited pages

    Signature(s)

    Amount
    € 45,000,000
    Countries
    Sector(s)
    Spain : € 45,000,000
    Industry : € 45,000,000
    Signature date(s)
    28/06/2011 : € 45,000,000

    Summary sheet

    Release date
    17 September 2010
    Status
    Reference
    Signed | 28/06/2011
    20100266
    Project name
    Promoter - financial intermediary
    INGETEAM Smart Grid RDI (RSFF)

    INGETEAM

    Proposed EIB finance (Approximate amount)
    Total cost (Approximate amount)
    EUR 50 million.
    EUR 110 million.
    Location
    Sector(s)
    Description
    Objectives

    The project comprises the Promoter’s investment in research, development and product/process innovation related to electronic equipments for renewable energies, such as frequency converters and electric generators for wind turbines, inverters for photovoltaic parks, as well as other electronic systems for thermoelectric, biomass and hydroelectric plants.

    The project concerns RDI activities for crucial components in renewable energy equipments, which are decisive technologies for the Member States to achieve their 2020 renewable energy targets. The project also covers, in part, RDI activities related to products belonging to the other promoter’s business units, namely “Industry”, “Marine” and “Traction”.

    Environmental aspects
    Procurement

    The project concerns investment in research and development activities that are expected to be carried out in existing R&D facilities in which case an EIA would not be required according to Directive 85/337/EC, amended by Directives 97/11/EC and 2003/35/EC. However the promoter will be required to ensure that the provisions of the EIA Directive (paying special attention to ANNEX II, point 13) and those of any other relevant environmental acquis are complied with. Full environmental details will be assessed during the appraisal.

    Procurement is expected to be in line with EIB guidelines for private-sector projects. The Bank’s services will verify details during the project’s due diligence.

    Comments

    Subject to confirmation the project should be eligible under the Risk Sharing Finance Facility (RSFF). RSFF is an innovative credit risk sharing scheme jointly set up by the European Commission and the European Investment Bank to improve access to debt financing for private companies or public institutions promoting activities with a higher financial risk profile in the fields of research, technological development, demonstration and innovation investments.

    Disclaimer

    Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The data provided on this page is therefore indicative and cannot be considered to represent official EIB policy (see also the Explanatory notes).

    News & Stories

    General enquiries and comments

    The EIB is committed to open communication and encourages constructive stakeholder input regarding its activities.
    Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
    Alternatively, the EIB can be contacted through its external offices.
    Queries regarding details of a specific project, in particular when it is under appraisal by the EIB, should preferably be addressed directly to project promoters.

    Media enquiries

    Media-related enquiries can be addressed to the EIB Press Office. Please also visit our Media information section.

    Complaints mechanism

    Any complaint regarding alleged maladministration can be lodged via the EIB Complaints Mechanism. The European Ombudsman acts as an independent external accountability mechanism of the EIB.

    Zero tolerance against fraud and corruption

    The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Fraud and Investigation division. All complaints will be treated as strictly confidential and handled in line with the EIB investigation procedures and the Anti-Fraud Policy.

    Related publications