Release date: 4 December 2015
Promoter – Financial Intermediary
IBERDROLA SALocation
Description
The project comprises selected investments in research, development and innovation (RDI) in the promoter's strategic business areas over the period 2015-2018, developing innovative technologies in the fields of i) electricity distribution, including smart grids, ii) electricity generation, emission control and markets, iii) renewable energy generation, and iv) energy systems, including electric mobility and storage.
Objectives
The investments are intended to diversify the promoter's range of products and services, and to adapt existing products to market demand.
Sector(s)
Proposed EIB finance (Approximate amount)
EUR 200 million
Total cost (Approximate amount)
EUR 427 million
Environmental aspects
The project activities will be carried out in existing research and development (R&D) facilities that will not change their already authorised scope due to the project. An environmental impact assessment (EIA) is therefore not needed in accordance with Directive 2011/92/EU. The outcome of the R&D project is expected to have positive impact on the environment, improving the environmental performance of the promoter through the deployment of renewable energies, efficient power generation as well as optimisation of the power distribution.
Procurement
The promoter is a contracting entity that falls under the Utilities Directive (2004/17/EC), and is therefore required to tender works, supplies and services contracts according to public procurement rules, including publication in the Official Journal of the EU, where appropriate.
Status
Signed - 23/05/2016
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).