Gamesa to use part of EIB loan to progress 5.5MW design

€260m fund to support prototype delivery by late 2014

A new turbine design being developed by Gamesa and aimed at both the on and offshore wind market will benefit from a €260m loan from the European Investment Bank (EIB), it was announced today.

EIB funds will be used to speed up development of two turbines, one of which will be a 5.5MW on/offshore machine. Gamesa hopes to unveil the 5.5MW machine during the fourth quarter of 2014. The manufacturer is already marketing an offshore-specific 5MW turbine with a 128m rotor diameter. It says it plans to develop 7-8MW designs in the "medium-long term".

Commenting on the loan deal, Gamesa chief executive Ignacio Martín said: "Innovation in the wind energy industry remains essential for the development of more competitive products and services tailored for an increasingly demanding market. This loan deal with the EIB, with its preferential terms, will enable us to undertake our ambitious product plan".

The Spanish turbine manufacturer will deploy the EIB funds during 2013-2015 and pay back the loan in full in 2018.