Investment Plan backs €125 million in EIB financing for innovative projects in Spain and the Netherlands

The European Investment Bank (EIB) Bank is providing two projects with €126.5 million in financing guaranteed under the Investment Plan’s European Fund for Strategic Investments. The first is a €76.5 million investment in a new solar energy plant in Extremadura, Spain, which will produce renewable energy for around 150,000 homes every year. The second is a €50 million loan to Prodrive Technologies, a Dutch tech company which designs and manufactures electronics, software and mechanic, to support its research and development programme and boost its expansion plans. Commenting on the project in the Netherlands, European Commissioner for the Economy, Paolo Gentiloni, said: “Prodrive is clearly an ambitious company with its sights set on expanding. With the €50 million the EIB is providing under the Investment Plan’s guarantee, Prodrive can realise its ambitions to develop even more innovative products and create more high-quality jobs. Time to shift into a higher gear!” As of November 2019, the Investment Plan had already mobilised €450.6 billion of investment across the EU, and supported more than one million start-ups and small and medium businesses. More information is available on the website.