siemens gamesa
Image credit: EIB

Siemens Gamesa has secured €300 million ($363.5 million) in funding from the European Investment Bank to implement its research, development and innovation (RDI) plan during 2020-2023.

The funding includes a €150 million ($181.7 million) loan.

Siemens Gamesa will use the loan to fund its innovation projects in research and development centres in Spain (Navarra, Vizcaya and Madrid) and Denmark (Aalborg and Brande).

RDI activities will include the development of innovative solutions for optimising the various components of a wind turbine, new applications for turbine maintenance and diagnostic services, and computer applications for optimising processes and energy production, ranging from blockchain to virtual reality and artificial intelligence.

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Innovation and technological developments are vital to continue developing solutions to address climate change by supplying clean energy in a way that is increasingly efficient and sustainable.

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

Ricardo Mourinho Félix, EIB vice-president and head of the Bank’s operations in Spain, said: “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.

“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.”