Highlights
- The investment will promote innovation, digitalisation and the roll-out of advanced manufacturing technology for the development of renewable energy technologies in the wind sector.
- The loan will strengthen the European supply chain for renewables and support the competitiveness of Europe's offshore wind industry.
- This agreement is backed by the InvestEU programme to mobilise public and private sector funds in support of EU policy goals.
- This EIB operation supports the REPowerEU plan of increasing energy security by reducing EU dependence on fossil fuel imports.
The European Investment Bank (EIB) and Haizea Wind Group, a Spanish company specialising in the manufacture of components for the wind energy sector, have signed a 35 million green loan.
The loan will enable Haizea to implement advanced manufacturing technologies, automate and digitalise processes and move forward with research and development applied to the manufacture and assembly of large metal structures for wind turbines such as wind towers, monopile foundations and offshore wind park transition pieces.
The project reinforces the EIB's role as the EU Climate Bank, backs the development of a major renewable energy technology and the international competitiveness of Europe's offshore wind industry, and strengthens the European supply chain for renewable energy.
"Loans like the one we are signing with Haizea today reflect the EIB's commitment to innovation and the development of renewable energy technologies enabling us to move forward with the energy transition and strengthening the competitiveness of our companies," said EIB Director of Operations for Spain and Portugal Gilles Badot. "A robust renewable technology manufacturing sector is vital to guaranteeing the European Union's energy security and autonomy."
This loan is part of the EIB's innovation support and falls under its cross-cutting climate action and environmental sustainability priority. Given Haizea's role as an equipment and structures provider to the energy sector, the operation also contributes to the REPowerEU plan's goal of increasing energy security and reducing EU dependence on fossil fuel imports. This loan is backed by the InvestEU programme to mobilise public and private sector funds in support of EU policy goals.
Haizea Wind Group Finance Director Alvaro Quintana added: "The signing of this loan with the EIB is part of Haizea Wind Group's goal of helping its clients work towards a more sustainable economy by supplying large metal pieces like towers, transition pieces and large-diameter monopiles - currently key parts of the offshore wind power supply chain to achieve the green transition. The trust the EIB has shown by signing with us this green loan will enable us to implement advanced manufacturing technologies and move forward with research and development applied to the manufacture and assembly of large metal structures for wind turbines."
The EIB and energy security
In 2023, the EIB Group provided more than 21 billion in financing for energy security in Europe. In the same year, it allocated 4.5 billion to this goal in Spain, financing projects in areas including renewable energy, energy efficiency, power grids and storage systems. These investments are helping Europe speed up its transition to sustainable energy and reduce its reliance on fossil fuel imports.
In July 2023, the EIB Board of Directors raised the amount earmarked for REPowerEU projects to 45 billion. REPowerEU is the plan designed to end Europe's dependence on fossil fuel imports. To boost financing for the EU manufacturing industry, the EIB will also expand the range of eligible sectors to include leading strategic technologies with net-zero carbon emissions, as well as extraction, processing and recycling of critical raw materials. The additional financing will be disbursed between now and 2027. In total, it is expected to mobilise more than 150 billion in investment in the target sectors.
Find out more about the EIB's support for the energy sector here.
Background information
European Investment Bank
The ElB is the long-term lending institution of the European Union, owned by the Member States. It finances sound investments that further EU policy objectives. EIB projects bolster competitiveness, drive innovation, promote sustainable development, enhance social and territorial cohesion, and support a just and swift transition to climate neutrality.
The EIB Group, consisting of the EIB and the European Investment Fund (EIF), reported total financing signatures in Spain of 11.4 billion in 2023, approximately 6.8 billion of which went to climate action and environmental sustainability projects. Globally, the EIB Group signed 88 billion of new financing in 2023.
InvestEU
The InvestEU programme provides the European Union with crucial long-term funding by leveraging substantial private and public funds in support of a sustainable recovery. It also helps mobilise private investment for EU policy priorities, such as the European Green Deal and the digital transition. InvestEU brings together under one roof the multitude of EU financial instruments currently available to support investment in the European Union, making funding for investment projects in Europe simpler, more efficient and more flexible. The programme consists of three components: the InvestEU Fund, the InvestEU Advisory Hub and the InvestEU Portal. The InvestEU Fund is implemented through financial partners who will invest in projects using the EU budget guarantee of 26.2 billion. The entire budget guarantee will back the investment projects of the implementing partners, increase their risk-bearing capacity and thus mobilise at least 372 billion in additional investment.
Haizea
Haizea Wind Group is an industrial group founded in 2017 that focuses on the design, manufacture and assembly of large metal structures and cast components for wind turbines. Specialising in wind towers, offshore foundations and large cast pieces, the group has major facilities in Spain (Port of Bilbao, Agurain, Itziar and Aranda de Duero), Argentina and France, and has an ambitious expansion plan for the coming years.
