Bilbao, December 19, 2008. The European Investment Bank (EIB) has granted Gamesa Corporación Tecnológica a €200 million loan to fund its Research, Development and Innovation Plan between 2008 and 2011. The financing agreement was signed in Bilbao this morning.

The EIB loan will contribute to financing R&D&i investments in critical wind turbine components aimed at improving their performance and cutting down on energy costs. The different research programs will mainly be carried out at Gamesa’s Spanish R&D centers (in the provinces of Navarre, Vizcaya and Madrid).

Gamesa is one of the world’s three main wind turbine generator manufacturers and its R&D&i program is a perfect reflection of European energy policy, which has become manifest by the Bank granting it such a significant loan. Technological breakthroughs in the energy field are essential to reach European targets in the fight against climate change, the security of energy supplies and ensuring the competitiveness of European companies. These targets were approved at a plenary session of the European Parliament held on December 17 and are known as the Triple 20 deal for 2020 (20% reduction in emissions, 20% of the EU’s energy mix from renewables and cutting energy consumption by 20%).

About the EIB

The European Investment Bank (EIB) is the European Union’s (EU) long-term financing institution placed at the service of European objectives. It was set up in 1957 and operates in the EU’s twenty-seven Member States, as well as in 130 third countries around the world.

As part of the EU’s strategy to back sustainable, competitive and secure energy, the EIB prioritizes the funding of investment projects in renewable energies, energy efficiency, research, development and innovation in the energy field and diversification, along with the security of internal energy supplies (including trans-European energy networks) and external energy supplies.

About Gamesa

Gamesa is a company specializing in sustainable energy technologies, mainly wind power. Gamesa is the market leader in Spain and is positioned among the world’s most important wind turbine generator manufacturers with a market share above 15% in 2007.

Gamesa has installed more than 13,000 MW of its main product lines in 20 countries spread out over four continents. The annual equivalent of this production amounts to more than 2.78 million tons of petroleum (TEP)/year and prevents the emission into the atmosphere of more than 20.6 million tons of CO₂/year.

The company has 32 production centers located in Spain, China and the United States with an international workforce of around 7,000 employees.