The ten-year-maturity loan supports Wärtsilä’s power supply R&D investments focused on its marine and energy business areas
NIB to support Wärtsilä in power supply its R&D programme. (Credit: Wärtsilä Corporation.)
NIB and the Finnish Wärtsilä Corporation have signed a EUR 75 million loan agreement to finance the company’s research and development (R&D) activities during 2019–2021.
The programme has three main themes: rationalising the company’s engine portfolio, fostering sustainable and smart shipping as well as enabling the transition to a 100% renewable energy future.
The projects in the marine business include developing new engine types and expanding the company’s high speed engine portfolio. The investments will provide intelligent solutions to support low- and unmanned operations, increase the use of alternative fuels and improve fuel flexibility as well as reduce manufacturing and lifecycle costs.
In the energy sector, R&D activities focus on improving operational efficiency of the company’s flexible combined heat and power, baseload and peaking applications. It will strengthen the company’s market leading position in flexible power solutions and foster renewable energy generation.
Source: Company Press Release