The European Investment Bank (EIB) has signed a €120 million loan with Iberdrola to finance the development of research and innovation projects involving energy technologies. Total investment for the project will be €250 million.
The EIB financing will enhance innovation in renewable energy projects in solar photovoltaics, hydropower and wind, together with other areas like combined power and agrivoltaics. Funds will also go towards research and development on decarbonising demand via, for example, green hydrogen and heat pumps, and to new solutions making it easier to integrate and manage renewables, facilitating storage and optimising energy efficiency throughout the value chain.
Power grid investment will go to projects covering digitalisation, advanced data management and power electronics to create smart grids. Initiatives aiming to improve cybersecurity and resilience on these grids will also be included. In the retail domain, the projects will contribute to the development of smart, tailored solutions to promote self-supply and electric mobility.
