Spain: EIB and Ingeteam sign a €75 million loan to develop advanced renewable energy and electrification technologies

This article is published in association with European Investment Bank.

• The funding will allow the Spanish company to boost its research, development and innovation activities in renewable energy, including photovoltaic inverters, energy storage, cybersecurity of electrical networks, and transport electrification among others.
• The agreement bolsters Europe’s industrial and technological leadership in renewable energy and contributes to its energy security and independence.
• The loan is backed by InvestEU and is part of the EIB Group’s TechEU initiative, the largest ever financing programme to accelerate technological innovation in the European Union.

Audiovisual resources:

Access here to video of the signature event

Firma préstamo BEI-Ingeteam Junio 2026.mp4 – Google Drive

President Visit Ingeteam.mp4 – Google Drive

The European Investment Bank (EIB) and Ingeteam have signed a €75 million loan to invest in research, development and innovation in advanced renewable energy and electrification technologies. Ingeteam is a company specialising in electrical energy conversion through the development of rotating electrical machines, power electronics, control and automation, and digital intelligence. Headquartered in Zamudio, Spain, the company operates in 15 countries. It is one of Europe’s top ten manufacturers of photovoltaic inverters, and this marks its fifth financing agreement with the EIB.

The EIB loan, backed by the InvestEU programme, will allow Ingeteam to develop advanced technological solutions that strengthen the entire electricity supply chain and enable more efficient and sustainable energy generation, storage, transmission, and consumption.

The investments will be made in Ingeteam’s research and development centres in the Basque Country and Navarre and will cover areas such as the integration of renewable energies into the grid, including the development of advanced power electronics (converters and inverters), energy storage systems and the digitalisation and cybersecurity of electrical networks, and transport electrification among others.

Developments in the field of photovoltaic inverters will help reduce dependence on non-European suppliers in the solar power generation sector, while also driving the development of equipment that ensures cybersecurity, data integrity, and grid stability.

The loan was announced at an event held today in Zamudio, in the Basque Country region of Spain, attended by Nadia Calviño, President of the EIB Group, Pilar Solano, Director of the EIB’s Corporate Lending Department for the EU, and Teresa Madariaga, President of Ingeteam.

“This new EIB investment in Ingeteam is key to Europe’s energy autonomy. It will enable us to reduce dependence on non-European suppliers of renewable energy technologies while strengthening electricity grid security,” said Nadia Calviño, President of the EIB Group.

“Accelerating the energy transition and increasing the competitiveness of the European industrial sector are two sides of the same coin. This new collaboration with Ingeteam allows us to advance in these two key objectives to strengthen Europe’s strategic autonomy,” added Pilar Solano, Director of the EIB’s Corporate Lending Department for the EU.

Teresa Madariaga, President of Ingeteam, stated that “at Ingeteam, we work with the clear goal of powering a sustainable future through our technologies in rotating electrical machines, power electronics, control and automation, and digital intelligence, improving the efficiency, stability, and reliability of the electrical system throughout its entire lifecycle. This partnership with the EIB reinforces our longstanding commitment to innovation and allows us to continue investing in research, development, and innovation of advanced solutions that drive the integration of clean energy, energy security, and the creation of a more sustainable model.”

This new loan reinforces the long-standing collaboration between the EIB and Ingeteam and is part of TechEU, the EIB Group’s programme dedicated to accelerating innovation in the European Union, which aims to mobilise €250 billion in investments for innovative companies across Europe by 2027. The project also contributes towards the EIB Group’s strategic priority and cross-cutting line of action for climate action and towards the REPowerEU programme to reduce the European Union’s dependence on fossil fuel imports.

Background information

The EIB Group

The European Investment Bank Group (EIB Group) is the financing arm of the European Union, owned by the 27 Member States, and is one of the largest multilateral development banks in the world.In 2025, the EIB Group signed €100 billion in new financing and advisory services for over 870 high-impact projects under eight core priorities that support EU policy objectives: climate action and environmental sustainability, digitalisation and technological innovation, security and defence, territorial cohesion, agriculture and bioeconomy, social infrastructure, strong global partnerships and the savings and investments union. Beyond long-term loans for large infrastructure, the EIB Group attracts private investment for high-risk innovative projects and businesses, with a growing role in Europe’s markets for venture debt, venture capital, guarantees and securitisations. In 2025, the EIB Group completed financing and investment operations in Spain totalling around €11 billion, which came alongside an additional €2.9 billion under the Regional Resilience Fund (NextGenerationEU loans).

The European Investment Fund (EIF) is the subsidiary of the EIB Group specialised in providing guarantees and equity to improve access to finance for small and medium-sized businesses and startups across Europe. Acting as an anchor investor, through its extensive network of partnering banks and investment funds, the EIF mobilises private investment and nurtures the ecosystem of venture capital funds to support innovative European entrepreneurs. In 2023, the EIF, together with six European Union Member States (France, Germany, Italy, Spain, Belgium and the Netherlands) launched the European Tech Champions Initiative (ETCI), a fund-of-funds intended to scale up innovative startups. This initiative has already enabled the creation of 15 European venture capital mega funds and scaled up 43 companies, including 11 unicorns (companies with a valuation exceeding €1 billion).

Photos of the EIB Group’s representatives and headquarters, logo files and video B-roll for media use are available here.

InvestEU

The InvestEU programme provides the European Union with long-term funding by leveraging substantial private and public funds in support of a sustainable recovery. It also helps draw in private investment for the European Union’s strategic priorities such as the European Green Deal and the digital transition. InvestEU brings all the EU financial instruments previously available for supporting investments within the European Union together under one roof, making funding for investment projects in Europe simpler, more efficient and more flexible. The programme consists of three components: the InvestEU Fund, the InvestEU Advisory Hub and the InvestEU Portal. The InvestEU Fund is implemented through financial partners that will invest in projects using the EU budget guarantee of €26.2 billion. The entire budget guarantee will back the investment projects of the implementing partners, increase their risk-bearing capacity and thus mobilise at least €372 billion in additional investment.

Ingeteam

Ingeteam, headquartered in Bizkaia, is made up of a team of more than 4,000 people across 15 countries, with 85 years of experience providing innovative and sustainable solutions to electrify society through cutting-edge technology specializing in electrical energy conversion.

We apply our technology in rotating electrical machines, power electronics, and control and automation electronics to the wind, photovoltaic, hydroelectric, battery energy storage, smart grid, rail traction, electric mobility, marine, water, steel, mining, green hydrogen, aeronautics, and data centre sectors.

In this way, Ingeteam positions itself as a leader across the entire electricity lifecycle: generation, storage, transmission, distribution, and efficient consumption