The European Investment Bank (EIB) has signed a significant €120 million loan agreement with Iberdrola to support energy technology research and innovation projects aimed at accelerating the electrification and decarbonization of the economy. The total investment for this initiative amounts to €250 million.
Focus on Renewable Energy Technologies
The funding from the EIB will enhance innovation in various renewable energy technologies, including:
- Solar photovoltaic
- Hydro
- Wind power
- Hybrid and agrovoltaic projects
The initiative will also concentrate on developing technologies for demand decarbonization, such as green hydrogen and heat pumps. Additionally, new solutions will be explored to facilitate the integration and management of renewable energy, improve storage capabilities, and optimize energy efficiency throughout the value chain.
Advancements in Grid Sector
In the grid sector, the investment will support:
- Digitization
- Advanced data management
- Power electronics projects to promote smart grids
These initiatives aim to enhance cybersecurity and resilience in energy networks. Furthermore, the projects will focus on developing smart, customized solutions that encourage self-consumption and promote electric mobility.
Alignment with Iberdrola’s Strategic Goals
This financing agreement aligns with Iberdrola’s strategic plan for 2024-2026, which emphasizes accelerating decarbonization and contributing to the electrification and digitalization of the global economy. The agreement also promotes economic, social, and territorial cohesion, with an estimated 27% of the total investment directed toward regions with per capita income below the EU average.
Conclusion
The collaboration between the EIB and Iberdrola represents a significant step toward fostering innovation in clean energy technologies and supports the broader goals of decarbonization and sustainable economic development across Europe.
