Release date: 19 December 2003
Promoter – Financial Intermediary
Wärtsilä Oyj, one of the world’s leading suppliers of marine propulsion systems and also a major supplier of decentralized power generation units.Location
Description
The project consists of R&D efforts to develop new innovative products partly through the increase of energy efficiency and emission reduction of combustion (diesel) engines for marine applications (mainly engines for large ships) and power applications (mainly electrical power plants).
Objectives
This project consists of R&D efforts for the development of innovative solutions for new engine generation, which will be characterised by higher energy efficiency and reduced emissions. Therefore the project is eligible under article 267 of the Treaty point c) i2i.
Sector(s)
Proposed EIB finance (Approximate amount)
EUR 100 million.
Total cost (Approximate amount)
EUR 240 million.
Environmental aspects
The main target of this project is the development of technologies that reduce the environmental impact of large engines, which in their main applications on ships and in power plants have a high duty cycle (running hours over time). Improvements on these engine characteristics will result in significant reductions of fuel consumption and of exhaust emissions.
Procurement
EIB procurement rules will pertain.
Status
Signed - 10/11/2003
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).