The European Investment Bank (EIB) has formalized with Iberdrola, one of the largest energy groups by market capitalization globally, a financing of 100 million euros that will contribute to the development of the company's innovation, research and development strategy between 2021 and 2023. The loan has been signed in Madrid by the President of Iberdrola, Ignacio Galán, and the Vice President of the EIB, Ricardo Mourinho Félix, who is responsible for the Bank's activity in Spain and Portugal.

The Chairman of Iberdrola, Ignacio Galán, with the Vice Chairman of the EIB, Ricardo Mourinho, during the signing ceremony

The funds obtained will promote the development of innovative and sustainable technologies, aligned with the fundamental vectors of the transformation of the energy sector, decarbonization and electrification of the economy. The research will be applied both in the field of renewable energies, in the production of green hydrogen and the development of floating wind and photovoltaic installations, as well as in the integration of clean energies in the energy system, through pumping hydroelectric plants and batteries.

Likewise, Iberdrola will develop new solutions for customers, promoting a more efficient use of energy and greater personalization of the service, in addition to electric mobility. To do this, it will promote digitization, automation and cybersecurity.

The president of Iberdrola, Ignacio Galán, highlighted on the occasion of the agreement the importance of innovation at Iberdrola: 
“R & D & I is in the DNA of our company and we continue to bet on being more innovative, more efficient and more customer-oriented. client. We must raise ambition and combine the green revolution and innovation as key pieces of economic recovery. We have been demonstrating this in the last two decades with a pioneering character and with agreements such as the one reached today with the European Investment Bank we are going to reinforce our innovation and research strategy to continue anticipating the future, building solutions today to respond to the challenges of tomorrow ".

EIB Vice President Ricardo Mourinho FélixExternal link, opens in new window., responsible for the Bank's activity in SpainExternal link, opens in new window.and Portugal, has assured: 
"The EIB is firmly committed to supporting investments that support the improvement of the competitiveness of the European economy and its strategic autonomy, promoting investment projects in research, development and innovation, especially those related to the sector energy, within the scope of the Bank's Climate Action. This agreement highlights, once again, the role of the EIB as a key player in the European economy and the main financier of investments related to clean energy and climate action ”. 

Iberdrola's R & D & i strategy contributes to the development of the European Strategic Energy Technology Plan (SET-Plan) and meets the new EU objectives on clean energy. In addition to improving the competitiveness of the company and maximizing the use of technology in activities that add value, improving processes and the productivity of its assets or achieving more efficiency in its activities, EIB support will contribute to the fight against climate change, through technologies that will allow the supply of more sustainable, competitive and efficient solutions.

Iberdrola thus consolidates its leadership in investment in R & D & i in the European and global energy sector, as a key tool to guarantee its sustainability, efficiency and competitiveness and to continue promoting the transition towards a green economy. According to the report ' The 2020 Industrial R&D Investment ScoreboardExternal link, opens in new window.', prepared by the European Commission, Iberdrola has once again become the leading private utility in the European Union in terms of investment in R & D & i, after having allocated 280 million euros in 2019. In this area, the company plans to reach 400 million euros by 2025 and, in the last decade, its investments in R + D + i have risen to 2 billion euros.

This financing responds to the objectives of the EIB and the EU, focused on supporting sustainable energy and fostering the technological capacity of companies, demonstrating the Bank's commitment to supporting innovative activities aimed at the decarbonization of the European economy.

KeyFacts Energy: Iberdrola Energy Spain country profile