Gamesa gets $338m loan from EIB for new turbine platforms

Spanish wind turbine manufacturer Gamesa has agreed a €260m ($338m) loan with the European Investment Bank (EIB) to help finance its research and development (R&D) programme during the 2013-2015 period.

The loan will be used to help developed Gamesa’s new 2.5MW onshore platform, and 5.5MW platform for onshore and offshore.

The finance – the third R&D loan which the EIB has signed with Gamesa in the last 8 years – will be settled in a single payment in 2018.

Gamesa invested €117m in R&D in 2011.

"This loan deal with the EIB, with its preferential terms, will enable us to undertake our ambitious product plan and meet our communities' present and future needs with cutting-edge technological developments," says Gamesa chairman and chief executive Ignacio Martín.