Reference: 20160294
Release date: 5 November 2019

Promoter – Financial Intermediary

ARTECHE LANTEGI ELKARTEA SA

Location

Description

The loan underlying investments include the promoter's Research, Development and Innovation (RDI) activities in the field of electrical, electronic products and related services, and particularly on instrument transformers, auxiliary relays, recloser and switches as well as substation automation systems. The project concerns also activities to implement lean principles in the production processes and increase their efficiency, improve processes' quality and quality control in production, as well as upgrade the factories' digital infrastructure. The project comprises only the EU-based investments of the promoter on the above mentioned activities and covers the period 2020-2023.

Objectives

The project aims at developing innovative products and services to contribute for the power sector by facilitating innovations to help utilities progress towards more intelligent, secure and efficient power systems. The project aims also to implement lean principles in the production processes and increase their efficiency, improve processes' quality and quality control in production as well as to upgrade the factories' digital infrastructure.

Sector(s)

Proposed EIB finance (Approximate amount)

EUR 27 million

Total cost (Approximate amount)

EUR 54 million

Environmental aspects

RDI activities on electrical, electronic products and related services are not listed in any of the annexes of the Environmental Impact Assessment (EIA) Directive 2014/52/EU amending the Directive 2011/92/EU. The financed activities will be carried out in already-authorised existing facilities, that will not change their scope due to the project, thus not requiring any additional environmental permits.

Procurement

The promoter has been assessed by the EIB as being a private company not subject to EU rules on public procurement or concessions.

Status

Signed - 19/12/2019

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).

Related tags

Spain Industry