The funding will be used over the next three years to fund the development of the programmes aimed at driving digitalisation and innovation within the company's main business areas of renewables, infrastructure and water. Acciona has earmarked matching funds for the programmes.
A definition of digitalisation is the use of digital technologies to change a business model and provide new revenue and value-producing opportunities.
Part of the funding will be allocated to developing solutions applicable to renewables including new technologies to optimise construction, operation and remote control of the power plants. In the water, developments will include implementation of more sustainable biological processes while a target in infrastructure construction is to increase waste recycling to strengthen the circular economy.
The rest will be used for digitalisation projects within the company, which include improving communication networks as well as interconnection, analysis and data processing projects, such as the interconnection of water treatment plants, in the areas of ‘big data’ and the ‘internet of things’.
The agreement, which was signed by EIB vice-president Román Escolano and Acciona Group chief financial officer Carlos Arilla, is supported by the European Fund for Strategic Investments.
Acciona chief technology and innovation officer Arantza Ezpeleta said: "This financing will drive digitalisation and innovation in Acciona's own business technologies to achieve competitive advantages in sustainable infrastructure and clean energy generation."