Siemens Gamesa has arranged a €300m loan from the European Investment Bank (EIB) to fund its research, development and innovation strategy through 2023.
The deal comprises an initial €150m tranche, and a second part for the same amount that may be tapped next year.
The work will be conducted mainly at SGRE’s R&D centers in Spain (Navarra, Vizcaya and Madrid) and Denmark (Aalborg and Brande).
Overall, Siemens Gamesa will allocate up to 45% of total capital expenditure to R&D.
The EIB loan will be used to fund projects including the development of innovative solutions for optimising the various components of a wind turbine.
It will also finance new applications for turbine maintenance and diagnostic services and computer applications for optimising processes and energy production, ranging from blockchain to reality virtual and artificial intelligence.
EIB’s support will also strengthen Siemens Gamesa’s innovativeness by contributing to enhancing the company’s innovative capacity and competitiveness, according to the company.