EIB invests €35m to finance Talgo’s digital transformation and innovation in Spain
The European Investment Bank (EIB) and Patentes Talgo have signed a €35 million green loan to finance the company’s research, development and innovation (RDI) strategy.
Las Rozas, Madrid-based Patentes Talgo is a Spanish leader in the design, manufacture and maintenance of light high-speed trains. All of the investments will be made in Spain and will be implemented between 2021 and 2024.
The EIB financing will boost Patentes Talgo’s competitiveness via the development of new rolling stock solutions and the expansion of its product portfolio.
This operation, the third to be signed with Patentes Talgo, will finance various investments by the company in research, development and innovation activities connected to the development of key components and systems for low-carbon rail transport vehicles. All the EIB-financed investments will be in line with the EU Sustainable and Smart Mobility Strategy and the Climate Bank Roadmap. As well as delivering safer products and manufacturing processes, the investments will have positive environmental effects related to the development of more energy-efficient rolling stock using recyclable composite materials. They will also help to promote sustainable mobility by gradually increasing passenger and goods rail traffic, fostering an affordable high-speed rail network.
The EIB-financed investment plan includes RDI projects aligned with the EU Horizon 2020 programme on Smart, Green and Integrated Transport. The goal of this programme is to boost the competitiveness of European transport industries and to achieve a resource-efficient, environmentally friendly and safe European transport system for the benefit of all.
EIB Vice-President Ricardo Mourinho Félix said: “We are proud to finance Talgo’s RDI strategy once again, demonstrating our commitment to sustainable transport. This operation again reflects the EIB’s support for helping Spain to achieve an economic recovery focused on the environment, innovation and job creation.”
Talgo Chairman Carlos Palacio added: “Talgo has been committed to rail sector innovation since its founding almost 80 years ago. We firmly believe that trains are the immediate response to the climate emergency, and EIB support will enable us to make further progress in decarbonising the transport system.”