Inverter manufacturer Ingeteam has been granted a EUR55 million (US$61 million) loan by the European Investment Bank (EIB) for its research and development in renewable energy.
Ingeteam will use the loan to finance R&D activities with PV systems, wind turbines and hydropower and thermal plants. The loan will also be used for activities in electricity distribution systems, industrial process control systems and electric power control systems.
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The research will be conducted during this year at Ingeteam’s facilities in the Basque Country, Navarra and Albacete in Spain.
