The EIB is supporting Repsol S.A.’s research, development and innovation (RDI) programme with a EUR 200 million loan. EIB Vice-President Magdalena Álvarez Arza and Repsol’s CEO Antonio Brufau signed the finance contract in Madrid this morning.

The European Investment Bank (EIB) is supporting Repsol S.A.’s research, development and innovation (RDI) programme with a EUR 200 million loan. EIB Vice-President Magdalena Álvarez Arza and Repsol’s CEO Antonio Brufau signed the finance contract in Madrid this morning.

The EIB will be financing various activities under the company’s wide-ranging RDI programme comprising i) the optimisation of natural gas transport; ii) improvement of energy efficiency in the oil refining process; iii) development and production of petrochemical derivatives; and iv) CO₂ storage. The programme will also include the development of renewable and biofuel transport solutions.

The bulk of the planned activities under the RDI programme will be carried out at Repsol’s technology centre in Móstoles in Spain, in cooperation with universities and tech companies.  The investments will be implemented over the period 2013-2016.

The investments financed by this loan meet the EU and EIB objectives of ensuring a sustainable, competitive and secure energy supply and fostering the energy efficiency and technological capacity of Europe’s businesses.