Wind Turbine R&D Funding for GamesaPress Release
Gamesa raises €260-million in funding from European Investment Bank for its on & offshore wind turbine R&D+I investment programme.
The funding will be used:
- To conduct innovation activities in the next three years (2013-2015)
- Gamesa’s 2013-2015 Business Plan calls for the launch of two new wind turbine systems with capacity of 2.5 MW and 5.5 MW (the latter for use both onshore and offshore) to meet demand and continue to offer competitive tech solutions
The EIB project will support Gamesa's R&D+I programme, which is devoted to the design and development of turbine platforms, both onshore and offshore. These emerging platforms are intended to offer greater capacity and constantly improving Cost of Energy (CoE).
The funds will help finance Gamesa's R&D activities in the next three years (2013-2015). The loan is scheduled to be paid off in a single payment in six years' time (2018).
This initiative will support the development of state-of-the-art renewable energy technologies and help bolster Gamesa products' innovative capabilities while enhancing their competitive edge. This is the third R&D+I loan the EIB has signed with Gamesa in the last eight years.
"Innovation in the wind energy industry remains essential for the development of more competitive products and services tailored for an increasingly demanding market. This loan deal with the EIB, with its preferential terms, will enable us to undertake our ambitious product plan and meet our communities' present and future needs with cutting-edge technological developments," said Gamesa Chairman and Chief Executive Officer Ignacio Martín.