Spanish energy company Iberdrola has applied to the European Investment Bank (EIB) for about €200m to promote research, development and innovation (RDI) in a variety of areas including renewable energy.
Iberdrola is looking to use the money over 2015-2018 to develop technologies in the following:
- electricity distribution, including smart grids;
- electricity generation, emission control and markets;
- renewable energy generation; and
- energy systems, including electric mobility and storage.
The investments are intended to diversify the Ibderdrola’s range of products and services, and to adapt existing products to market demand.
The activities will be carried out in existing R&D facilities and so an EIB environmental impact assessment is not needed.
“The outcome of the R&D project is expected to have positive impact on the environment, improving the environmental performance of the promoter through the deployment of renewable energies, efficient power generation as well as optimisation of the power distribution,” the application said.
The application is currently under appraisal by the EIB.
Image: Peñascal wind farm Texas (Iberdrola)