EIB Loans $38 Million to Spanish Wind Components Maker
The European Investment Bank (EIB) has loaned EUR 35 million ($38.4 million) to Haizea Wind Group, a Spanish manufacturer of wind turbine components, to boost its production capabilities and research and development efforts.
The funding will be used to upgrade manufacturing processes, introduce automation, and advance research into large metal structures for wind turbines, including towers, foundations, and transition pieces, the EIB said in a media release.
“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 EIB Director of Operations for Spain and Portugal Gilles Badot. “A robust renewable technology manufacturing sector is vital to guaranteeing the European Union’s energy security and autonomy”.
The bank aims to invest EUR 45 billion ($49.2 billion) in REPowerEU projects by 2027 to reduce the continent’s reliance on fossil fuels.
“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”, Haizea Wind Group Finance Director Alvaro Quintana added. “The trust the EIB has shown by signing with us this green loan will enable us to implement advanced manufacturing technologies and move forward with research and development applied to the manufacture and assembly of large metal structures for wind turbines”.
In 2023, the EIB Group provided over EUR 21 billion in financing for energy security in Europe. During the same year, it allocated EUR 4.5 billion for this goal in Spain, funding projects in areas such as renewable energy, energy efficiency, power grids, and storage systems.
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