The European Investment Bank (EIB) has signed a €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.
The EIB funding will enhance innovation in renewable energy technologies, including solar photovoltaic, hydro, and wind power, as well as hybrid and agrovoltaic projects. It will also focus 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.
In the grid sector, the investment will support digitization, advanced data management, and power electronics projects to promote smart grids. This includes initiatives to enhance cybersecurity and resilience in these networks. On the commercial front, the projects aim to develop smart, customized solutions that encourage self-consumption and electric mobility.
These efforts align with Iberdrola’s strategic plan for 2024-2026, which focuses on accelerating decarbonization and contributing to the electrification and digitalization of the global economy.
The financing 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.
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