Iberdrola Group and the EIB sign 120 million loan for energy innovation projects in Spain

• Funding will be used for research, development and innovation projects in energy sector technologies to contribute to the economy’s electrification and decarbonisation.
• Innovation projects will cover the generation and integration of renewable energies, the digitalisation of distribution grids and the development of self-consumption and electric mobility solutions for customers.
• The loan also contributes to energy security through investments in cybersecurity and resilience initiatives applied to distribution grid management.

The European Investment Bank (EIB) signed a €120 M loan today with Iberdrola to finance the development of energy technology research and innovation projects aimed at contributing to and accelerating the economy’s electrification and decarbonisation. The total investment associated with the project will be €250 M.

The EIB funding will be used to boost innovation in renewable energy technology projects such as solar photovoltaic, hydro and wind power, as well as hybridisation and agrovoltaic projects. Technologies for the decarbonisation of demand, such as green hydrogen or heat pumps, will also be studied and developed. New solutions will also be investigated to facilitate the integration and management of renewables, increment storage and optimise energy efficiency along the entire value chain. 

Investment in grids will go to digitisation, advanced data management and power electronics projects to promote smart grids. It also includes initiatives aimed at increasing the cybersecurity and resilience of these grids. Projects in the commercial area will contribute to the development of smart and customised solutions to promote self-consumption and electric mobility. 

Find out more about how the EIB loan will contribute to the development of energy innovation projects in Spain.