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#InvestmentPlan supports innovative electric power company in #Spain

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The European Investment Bank (EIB) is providing Arteche Group with a €27 million loan to finance its Research and Innovation strategy. The financing, backed by the European Fund for Strategic Investments (EFSI), will allow the Group to modernize its digital infrastructure and to develop sustainable electrical systems.

Economy Commissioner Paolo Gentiloni said: “The electric power industry has a crucial role to play in the green transition, and that demands innovative solutions. That's why the European Union is supporting Arteche in its efforts to develop safer, more efficient electrical systems. This investment will also help to create high-quality jobs in Spain.”

The press release is available here. As of December 2019, the Investment Plan had mobilized €458.8 billion of investment across the EU, including €49.8bn in Spain, and supported more than one million start-ups and small and medium businesses.

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