The European Investment Bank (EIB) will support the research and development activities of wind turbine manufacturer Nordex SE. The bank will provide the company with a loan of EUR 100 million for its multi-year R&D program.
Within the framework of the R&D program, which is due to run until 2017, Nordex will work together with suppliers and research institutes in the European Union. With this research, Nordex plans to step up the development of increasingly efficient technical solutions in order to improve its competitiveness. At the same time the company aims to achieve grid parity for wind energy in all standard locations.
Among the focus areas for funding activities of the EU bank are projects designed to protect the climate and the environment. In 2013, financing in this area accounted for a total share of EUR 19 billion with the expansion of renewable energies playing a key role. In 2013, the EIB provided loans amounting to EUR 6.4 billion for this purpose.