The European Investment Bank (EIB) and Haizea Wind Group have signed a €35m green loan agreement.
The loan will enable Haizea to implement advanced manufacturing technologies, automate and digitalise processes and move forward with research and development applied to the manufacture and assembly of large metal structures for wind turbines.
These will include wind towers, monopile foundations and offshore wind park transition pieces.
EIB director of operations for Spain and Portugal, Gilles Badot said: “Loans like the one we are signing with Haizea today reflect the EIB’s commitment to innovation and the development of renewable energy technologies enabling us to move forward with the energy transition and strengthening the competitiveness of our companies.
“A robust renewable technology manufacturing sector is vital to guaranteeing the European Union’s energy security and autonomy.”
This loan is part of the EIB’s innovation support and falls under its cross-cutting climate action and environmental sustainability priority.
Given Haizea’s role as an equipment and structures provider to the energy sector, the operation also contributes to the REPowerEU plan’s goal of increasing energy security and reducing EU dependence on fossil fuel imports.
This loan is backed by the InvestEU programme to mobilise public and private sector funds in support of EU policy goals.
Haizea Wind group finance director Alvaro Quintana added: “The signing of this loan with the EIB is part of Haizea Wind Group’s goal of helping its clients work towards a more sustainable economy by supplying large metal pieces like towers, transition pieces and large-diameter monopiles – currently key parts of the offshore wind power supply chain to achieve the green transition.
“The trust the EIB has shown by signing with us this green loan will enable us to implement advanced manufacturing technologies and move forward with research and development applied to the manufacture and assembly of large metal structures for wind turbines.”
In 2023, the EIB Group provided more than €21bn in financing for energy security in Europe.
In the same year, it allocated €4.5bn to this goal in Spain, financing projects in areas including renewable energy, energy efficiency, power grids and storage systems.
These investments are helping Europe speed up its transition to sustainable energy and reduce its reliance on fossil fuel imports.
In July 2023, the EIB board of directors raised the amount earmarked for REPowerEU projects to €45bn.
To boost financing for the EU manufacturing industry, the EIB will also expand the range of eligible sectors to include leading strategic technologies with net-zero carbon emissions, as well as extraction, processing and recycling of critical raw materials.
The additional financing will be disbursed between now and 2027.
In total, it is expected to mobilise more than €150bn in investment in the target sectors.