German turbine manufacturer Nordex has bagged a loan worth €100 million (£82.4m) that will support its research and development programme.
It will work together will suppliers and research institutes in the EU as part of the project, which plans to “step up the development of efficient technical solutions in order to improve its competitiveness”.
It also aims to achieve grid parity – which is when an alternative energy source can generate electricity at a cost that is less than or equal to the price of purchasing power from the electricity grid – for wind energy in all standard locations.
Wilhelm Molterer, Vice President of the European Investment Bank (EIB), which provided the loan said: “Wind energy not only plays a key role when it comes to Germany’s ambitious energy turnaround, it also makes a substantial contribution to meeting the binding EU-wide climate targets.”
Nordex’s programme is expected to run until 2017.