Gamesa gets €260m for wind research

Gamesa has received a €260 million (£210.8m) loan to fund its research and development in wind turbine manufacturing for the next three years. The cash from the European Investment Bank […]

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By Priyanka Shrestha

Gamesa has received a €260 million (£210.8m) loan to fund its research and development in wind turbine manufacturing for the next three years.

The cash from the European Investment Bank (EIB) will help the Spanish firm design and develop both onshore and offshore turbine platforms, which are expected to offer “greater capacity and constantly improving cost of energy”.

Ignacio Martín, Gamesa Chairman and CEO said: “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.”

The loan is scheduled to be paid off in a single payment in 2018. It is the third research, development and innovation loan the EIB has signed with Gamesa in the last eight years.