The European Investment Bank (EIB) will finance Ingeteam’s innovative activities by providing a EUR 70m Innovation Loan under the Investment Plan for Europe. The goal of the agreement signed today in Bilbao is to support Ingeteam’s research, development and innovation (RDI) programme focused on developing new solutions to meet the needs of the energy transition. The project, signed today in Bilbao, is backed by the Juncker Plan’s European Fund for Strategic Investments (EFSI).
The investments will be implemented from this year up until 2022 at the company’s plants in the Basque Country, Navarra and Albacete. Ingeteam will benefit from the favourable conditions of EIB financing in terms of both long maturity periods and interest rates thanks to the Investment Plan for Europe, or Juncker Plan, which enables this EIB to offer increased support for investments fostering innovation, economic growth and jobs. This project will help secure the jobs of the company’s almost 4,000 employees.