The European Investment Bank (EIB) has approved a €120 million loan to Spanish contractor Acciona.

The funds will support the company’s research and development programme in strategic sectors such as renewable energy, infrastructure and water treatment.

The EIB said the aim was to improve the energy efficiency of products and processes, and to optimise the generation of biomass, wind and solar energy.

It said Acciona’s technology centres in the Spanish cities of Madrid, Pamplona and Barcelona would work on the activities covered by the loan until 2016.

The EIB added that the project would be conducted in co-operation with other national and international research centres and institutes.

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