EIB Grants €35 Million Green Loan to Haizea Wind Group to Advance Wind Energy Manufacturing in Europe

EIB Grants €35 Million Green Loan to Haizea Wind Group to Advance Wind Energy Manufacturing in Europe

(IN BRIEF) The European Investment Bank (EIB) has granted a €35 million green loan to Haizea Wind Group, a Spanish wind energy component manufacturer. This investment aims to enhance innovation and digitalization in the wind sector, supporting the REPowerEU plan to reduce EU fossil fuel dependence. The loan will help Haizea implement advanced manufacturing technologies and boost research and development for wind turbine structures. This initiative aligns with the EIB’s goal of strengthening Europe’s renewable energy supply chain and energy security.

(PRESS RELEASE) LUXEMBOURG, 2-Aug-2024 — /EuropaWire/ — The European Investment Bank (EIB), the lending arm of the European Union, has signed a €35 million green loan agreement with Haizea Wind Group, a Spanish company specializing in wind energy component manufacturing. This investment aims to promote innovation, digitalization, and the deployment of advanced manufacturing technology in the wind sector.

This loan will enable Haizea to implement cutting-edge manufacturing technologies, automate and digitize processes, and advance research and development in producing large metal structures for wind turbines, including wind towers, monopile foundations, and offshore wind park transition pieces.

The project supports the REPowerEU plan, which seeks to enhance energy security by reducing the EU’s dependence on fossil fuel imports. Backed by the InvestEU programme, this agreement aims to mobilize public and private sector funds in line with EU policy goals.

Gilles Badot, EIB Director of Operations for Spain and Portugal, emphasized the bank’s commitment to innovation and renewable energy development, highlighting the importance of a robust renewable technology manufacturing sector for the EU’s energy security and autonomy.

Alvaro Quintana, Haizea Wind Group’s Finance Director, expressed that the loan aligns with Haizea’s goal of aiding clients in achieving a more sustainable economy through advanced manufacturing technologies and research in wind turbine structures.

In 2023, the EIB Group provided over €21 billion for energy security in Europe, including €4.5 billion in Spain for renewable energy, energy efficiency, power grids, and storage systems. The EIB’s commitment to the REPowerEU plan includes increasing financing to €45 billion to support the EU’s transition to sustainable energy and reduce fossil fuel reliance.

Find out more about the EIB’s support for the energy sector here.

European Investment Bank

The ElB is the long-term lending institution of the European Union, owned by the Member States. It finances sound investments that further EU policy objectives. EIB projects bolster competitiveness, drive innovation, promote sustainable development, enhance social and territorial cohesion, and support a just and swift transition to climate neutrality.

The EIB Group, consisting of the EIB and the European Investment Fund (EIF), reported total financing signatures in Spain of €11.4 billion in 2023, approximately €6.8 billion of which went to climate action and environmental sustainability projects. Globally, the EIB Group signed €88 billion of new financing in 2023.

InvestEU

The InvestEU programme provides the European Union with crucial long-term funding by leveraging substantial private and public funds in support of a sustainable recovery. It also helps mobilise private investment for EU policy priorities, such as the European Green Deal and the digital transition. InvestEU brings together under one roof the multitude of EU financial instruments currently available to support investment in the European Union, making funding for investment projects in Europe simpler, more efficient and more flexible. The programme consists of three components: the InvestEU Fund, the InvestEU Advisory Hub and the InvestEU Portal. The InvestEU Fund is implemented through financial partners who will invest in projects using the EU budget guarantee of €26.2 billion. The entire budget guarantee will back the investment projects of the implementing partners, increase their risk-bearing capacity and thus mobilise at least €372 billion in additional investment.

Haizea

Haizea Wind Group is an industrial group founded in 2017 that focuses on the design, manufacture and assembly of large metal structures and cast components for wind turbines. Specialising in wind towers, offshore foundations and large cast pieces, the group has major facilities in Spain (Port of Bilbao, Agurain, Itziar and Aranda de Duero), Argentina and France, and has an ambitious expansion plan for the coming years.

Media Contact:

Maite Cordero
m.corderomunoz@eib.org
+34 606 66 82 62

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SOURCE: European Investment Bank