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Gamesa obtains EUR 260 million loan for RDI

European Investment Bank - BEI/12/181   29/11/2012

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PRESS RELEASE

BEI/12/181

Luxembourg, 29 November 2012

Gamesa obtains EUR 260 million loan for RDI

The European Investment Bank (EIB) today granted a EUR 260 million loan to Gamesa to support its research, development and innovation (RDI) activities in the field of wind turbine generators. This is the EIB’s third loan to Gamesa for RDI in the past eight years.

EIB Vice-President Magdalena Álvarez Arza said that “the EIB’s commitment to RDI – especially in a sector with such great potential and importance as renewables – is key to ensuring a secure, sustainable and competitive energy supply for Europe. The Bank’s contribution therefore goes beyond providing long-term finance in the current credit crunch. With this loan we are investing in the future and laying the foundations for the development of new products and technologies that will bring quality growth in the years ahead.”

“Innovation in the wind sector remains key to the development of more competitive products and services geared to ever more challenging demand. This EIB loan on favourable terms will enable us to carry out our ambitious product development programme and meet the present and future needs of our communities with cutting-edge technologies”, added Ignacio Martín, Chairman and CEO of Gamesa.

This EIB loan will support Gamesa’s RDI investment programme aimed at designing and developing on and offshore wind platforms with greater capacity and a lower energy costs. The project will aid the development of an important renewable energy technology and strengthen Gamesa’s capacity for innovation and competitiveness. The programme will be carried out over the next three years.

The investments financed by this loan meet the EIB and the EU’s objectives of ensuring a sustainable, competitive and secure energy supply and fostering businesses’ technological capacity. The EIB is heavily involved in financing investments aimed at increasing Europe’s economic competitiveness and supports RDI projects – especially in the energy sector – under its climate action programme.

About the EIB

The European Investment Bank (EIB) is the long-term lending institution of the European Union owned by its Member States. It makes long-term finance available for sound investment in order to contribute towards EU policy goals.

Gamesa and innovation (www.gamesacorp.com)

With 18 years' experience and more than 25,000 MW installed in 40 countries, Gamesa is a global technological leader in the wind industry.

The company is one of the most active industrial wind energy groups in the innovation and patent registration business. Its 2013-2015 Business Plan calls for the launch of two new platforms: with capacity of 2.5 MW and 5.5 MW (for onshore and offshore), geared towards meeting market needs and continuing to offer competitive technology solutions. Its investment in R&D+I in 2011 totalled 117 million euros. The company has registered for more than 200 inventions since 2003, most of them in recent years associated with the development of its Gamesa 4.5 MW turbine system.

Press contact:

Matilde del Valle Serrano, m.delvalle@eib.org +352 437983154

Website: www.eib.org/press – Press Desk: +352 4379 21000 – press@eib.org


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