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The project comprises a selection of the Promoter's planned capital and operative expenditures carried out in Spain over the period between 2025 and 2028.
The project is expected to strengthen the competitiveness and resilience of the European supply chain for aerospace, security and defence technologies and products, by further developing and maturing technologies in relevant areas such as radar, electronic defence, electro-optics, communication, command and control as well as advanced digitalisation technologies.
The Project strengthens the competitiveness and resilience of the European supply chain for aerospace, security and defence technologies and products.
The Project's activities are eligible for EIB financing and in line with the Bank's IDHC (Innovation, Digital, and Human Capital) public policy goal.
The investments to be financed support the EU policy priorities under Horizon Europe Strategic Plan 2025-27, and specifically Cluster 3 (Civil Security for Society) and Cluster 4 (Digital, Industry, and Space: key digital technologies, low carbon, and clean industries).
The financing of this Project supports Research, Development, and Innovation (RDI) activities that generate significant positive knowledge, technology externalities, through the creation and production of innovative products and services, along with skills development and upgrading.
The Project addresses the market failure of imperfect competition, as it contributes to expanding the competitive space for new product technologies, the failure in financial markets for RDI, arising from higher cost of financing due to the inherent uncertainty of RDI outcomes.
The Bank will support the Borrower with access to long-term financing with customized and flexible financial terms and conditions, which will lengthen its average debt maturity and strengthen its overall financial position. The Bank's financing will also demonstrate the Project's soundness and quality.
Part of the project concerns new greenfield constructions that might fall under the Annex II of the Environmental Impact Assessment (EIA) Directive 2011/92/EU as amended by Directive 2014/52/EU in relation to urban development. The environmental details will be verified during the project appraisal.
The Promoter has been assessed by the EIB as being a private company not being subject to EU rules on public procurement or concessions. However, if at the project appraisal, the EIB were to conclude that the Promoter is subject to the EU public procurement legislation then the Bank would duly inform the Commission Services and would require the Promoter to apply those rules.