The European Investment Bank (EIB) has granted a EUR 200 million loan to Gamesa Corporación Tecnológica to finance its research, development and innovation programme 2008-2011. The finance contract was signed this morning in Bilbao.
This EIB loan will help to finance the company's RDI investment in key wind turbine components aimed at improving their performance and reducing energy costs. The research will mainly be carried out at Gamesa's R&D centres in Navarra, Vizcaya and Madrid.
Gamesa is one of the world's leading wind turbine manufacturers and its RDI programme fits in perfectly with EU energy policy - hence the EIB support in the form of a large loan. Technological progress in the energy field is essential to achieving the EU's climate change objectives, securing the energy supply and ensuring the competitiveness of European companies. These goals were endorsed by the plenary session of the European Parliament on 17 December and dubbed the three 20s for 2020 (20% reduction in emissions, 20% renewables quota and 20% energy savings).
About the EIB
The European Investment Bank is the EU's long-term financing institution promoting European objectives. Created in 1957, it operates in the 27 EU Member States and more than 130 other countries worldwide.
As part of the EU's strategy of promoting sustainable, competitive and secure energy sources the EIB gives priority to financing investment in renewables, energy efficiency, energy RDI, the diversification and security of the internal energy supply (including trans-European energy networks) and external energy security.
About Gamesa
Gamesa specialises in sustainable energy technologies, mainly wind power. It is the market leader in Spain and one of the world's biggest manufacturers of wind turbines, with a market share of over 15% in 2007.
Gamesa has installed more than 13.000 MW of its main product lines 20 in countries on four continents. The output from this plant equates to more than 2.78 million tonnes equivalent of petroleum (TEP) per year and avoids the emission into the atmosphere of more than 20.6 million tonnes of CO2 per year.
The company has 32 production centres in Spain, China and the United States and an international workforce of around 7 000.