Release date: 10 November 2009
Promoter – Financial Intermediary
Acciona SALocation
Description
The project comprises investments in Research, Development and Innovation (RDI) in the company’s strategic areas: energy, infrastructures and water. In particular, the project focuses on developing innovative technologies in the fields of: i) wind energy, ii) solar photovoltaic and thermoelectric energies, iii) biomass and biofuels, iv) sustainable water treatment and desalination. The project also includes a wide variety of small sub-projects to support the bigger technology platforms as well as the traditional business areas within the group; these projects mainly focus on nanotechnologies, sustainable re-use of construction materials and application of renewables to civil engineering. The promoter carries out his RDI program in dedicated technology centres located in Spain (Madrid, Pamplona and Barcelona).
Objectives
According to the Commission's latest Competitiveness Report, investments in Research and Development (R&D) contribute significantly to increases in productivity. Private sector investments meet the orientations that underpin the Lisbon’s Council decision as “increased investment in R&D can significantly increase productivity growth, especially if the elements of the knowledge triangle, R&D, innovation, education and training, are well integrated, including the provision of scientific personnel”. The promoter’s RDI programme covers a wide range of projects in its majority related to renewable energies. The development of wind power, solar and biomass derived energy is one of the priorities of the European Strategic Energy Technology Plan (SET-Plan). Part of the project also focuses on water treatment with objectives in line with the ones of the European Water Supply and Sanitation Technology Platform (WSSTP).
Sector(s)
Proposed EIB finance (Approximate amount)
Up to EUR 200 million.
Total cost (Approximate amount)
Estimated to be around EUR 400 million.
Environmental aspects
The project concerns investment in research and development that are expected to be carried out in existing facilities already authorised, in which case an EIA would not be required by EIA Directive 85/337/EEC, amended by Directives 97/11/EC and 2003/35/EC. However, the Bank’s services will verify details, and especially the ones related to the location of the R&D facilities, during the appraisal.
Procurement
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.
Status
Signed - 18/12/2009
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).