Siemens Gamesa Secures EUR 300 Million EIB Loan for RDI Strategy

Siemens Gamesa has arranged a EUR 300 million loan from the European Investment Bank (EIB) to fund its research and development and innovation (RDI) strategy through 2023.

The deal comprises an initial EUR 150 million tranche, and a second tranche for the same amount that may be tapped next year.

The EIB loan will be used to fund the wind turbine manufacturer’s RDI projects such as the development of innovative solutions for optimizing the various components of a wind turbine, new applications for turbine maintenance and diagnostic services, and computer applications for optimizing processes and energy production, ranging from blockchain to reality virtual and artificial intelligence.

The investment will be allocated mainly to Siemens Gamesa’s R&D centers in Spain, and the Danish centers in Aalborg and Brande.

“As the EU’s climate bank, we are delighted to be supporting Siemens Gamesa’s RDI strategy to drive innovation in the field of renewable energy and thereby contribute to sustainable economic growth and job creation in Spain and Denmark during such a critical time,” Ricardo Mourinho Félix, EIB Vice-President and head of the Bank’s operations in Spain, said.

”This project will enhance the competitiveness of this leading European company by developing more sustainable processes and products, and demonstrates the EIB’s firm commitment to innovation and to clean energies as vital elements in achieving the European objective of climate neutrality by 2050.”

Overall, Siemens Gamesa will allocate up to 45 per cent of total capital expenditure to R&D.