European Investment Bank to finance Repsol’s R&D programme

7:21 AM, 21st May 2013

European Investment Bank to finance Repsol’s R&D programme

(From left) Antonio Brufau, Chairman, Repsol and Magdalena Alvarez, Vice-President, European Investment Bank.

MADRID, SPAIN: The European Investment Bank (EIB) will finance Repsol’s research and development plan (R&D) with €200 million. The EIB will finance a development programme that includes improvements in natural gas transport, energy efficiency, optimisation of refining processes, development and production of petrochemical derivatives and carbon dioxide storage. This will also include programme for systems development in renewable energy, biofuels and transport solutions.

The investment that will be carried out between 2013 and 2016 will support the European Union and the EIB objectives to develop sustainable, competitive and secure energy solutions, promoting energy efficiency and the technical capacity of European companies. This supports the company’s R&D projects, a priority for Repsol, which has a technological development strategic plan as part of its business strategy.

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