Spain’s Haizea Gets EUR 35 Million Green Loan for Wind Turbine Manufacturing

August 2, 2024, by Adnan Memija

Spain’s Haizea Wind Group has secured a EUR 35 million green loan from the European Investment Bank (EIB) to enhance manufacturing technologies and research and development (R&D) for wind turbine components.

Announced on 2 August, the loan will enable the Spanish company to implement advanced manufacturing technologies, automate and digitalise processes, and move forward with R&D applied to the manufacture and assembly of large metal structures for wind turbines such as towers, monopile foundations, and offshore wind farm transition pieces (TPs).

“The signing of this loan with the EIB is part of Haizea Wind Group’s goal of helping its clients work towards a more sustainable economy by supplying large metal pieces like towers, transition pieces and large-diameter monopiles – currently key parts of the offshore wind power supply chain to achieve the green transition,” said Alvaro Quintana, Haizea Wind Group Finance Director.

The loan is part of the EIB’s innovation support and falls under its cross-cutting climate action and environmental sustainability priority.

Given Haizea’s role as an equipment and structures provider to the energy sector, the operation also contributes to the REPowerEU plan’s goal of increasing energy security and reducing EU dependence on fossil fuel imports, said the company.

“Loans like the one we are signing with Haizea today reflect the EIB’s commitment to innovation and the development of renewable energy technologies enabling us to move forward with the energy transition and strengthening the competitiveness of our companies,” said Gilles Badot, EIB Director of Operations for Spain and Portugal.

“A robust renewable technology manufacturing sector is vital to guaranteeing the European Union’s energy security and autonomy.”

Yesterday, EIB initiated a EUR 5 billion programme to support the wind energy sector, starting with a EUR 500 million counter-guarantee to Deutsche Bank.

According to EIB, the German bank will use the support to provide banking guarantees to wind energy manufacturers which will enable them to receive payments in advance as well as to provide performance guarantees when taking on new wind projects.

In 2023, the EIB Group provided more than EUR 21 billion in financing for energy security in Europe. In the same year, it allocated EUR 45 billion to this goal in Spain, financing projects in areas including renewable energy, energy efficiency, power grids, and storage systems.

When it comes to Haizea Wind Group, the company was founded in 2017. Specialising in wind towers, offshore foundations, and large cast pieces, the group has facilities in Spain (Bilbao Port, Agurain, Itziar, and Aranda de Duero), Argentina, and France.