A loan has been agreed between European Investment Bank (EIB) and Wärtsilä, a leading supplier of power solutions for the marine and energy markets, to develop more environmentally friendly ship engines and power plants.
Under the agreement, the EIB will provide a €150m loan for Wärtsilä’s research, development and innovation (RDI) activities in Finland, Italy, Switzerland and several other European countries.
The project supports the knowledge economy as the company conducts its RDI both internally and in close cooperation with European universities and research institutes, enabling such institutions to carry out advanced applied research while creating and spreading technological know-how. The project will develop engines and power plants that are cleaner, more efficient and reliable with higher levels of automation, lower lifecycle costs and improved environmental performance. New maritime emission requirements are expected to increase the demand for clean engines and a similar trend is evident in land-based power plants.
