The European Investment Bank (EIB) has granted ACCIONA a 100 million euros credit line which will be used over the next three years to fund the development of programmes aimed at driving digitalisation and innovation within the company's main business areas (renewables, infrastructure and water).
Part of that amount will be allocated to developing solutions applicable to renewables (new technologies to optimise construction, operation and remote control of the power plants), water (implementing more sustainable biological processes) and infrastructure construction (increasing waste recycling to strengthen the circular economy).
The rest will be used for digitalisation projects within the company, which include improving communication networks as well as interconnection, analysis and data processing projects (such as the interconnection of water treatment plants) in the areas of Big Data and the Internet of Things.
ACCIONA has earmarked matching funds to boost these innovation and digitalisation programmes.
The agreement, which was signed today at EIB headquarters in Madrid by Román Escolano, EIB Vice-President, and Carlos Arilla, Acciona Group Chief Financial Officer, is supported by the European Fund for Strategic Investments (EFSI), a cornerstone of the European Commission’s Investment Plan for Europe (the "Juncker Plan").
The event was also attended by Arantza Ezpeleta, Chief Technology and Innovation Officer at Acciona, who highlighted: "This financing will drive digitalisation and innovation in Acciona's own business technologies to achieve competitive advantages in sustainable infrastructure and clean energy generation."
Thanks to its commitment to innovation, ACCIONA ranks among the 550 most innovative companies in the world, according to the 2017 Global Innovation 1000 report.
The EIB is the European Union's long-term lending institution; its shareholders are the member states. The EIB provides long-term financing for viable investment projects in order to contribute to the achievement of EU policy goals.