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The EVE invested 40 million euros in energy projects in 2011

2012 September 2

The majority of funding was injected into EVE investee companies to develop electric vehicles, smart grids and marine power

• - Apart from the investments, the EVE awarded €21.7 million in subsidies, which led to purchases and investments to the tune of 90 million euros.
• - The commissioning of the Mutriku wave power plant and its coming into service were also relevant milestones from the technological point of view.

2 September 2012 - Investments by the Basque Energy Board (Ente Vasco de la Energía - EVE), the energy agency answering to the Basque Government's Department for Industry, Innovation, Trade and Tourism exceeded 40 million euros (€40,303) in 2011. Most of the amount was invested in the Leader electric vehicle, smart grid and wave power initiatives. In addition to those projects, the EVE awarded subsidies to the tune of 21.7 million euros.

In the current difficult business and economic climate, the Basque Energy Board (EVE) earmarked the vast majority of its resources and activities to drive investment policies and projects that generate business and jobs. It is thus an excellent example of the "Basque Country model".

First of all, the subsidy programmes in the spheres of energy efficiency and savings and of renewable energies have played a key role in driving energy projects. In 2011, the EVE thus awarded around 22 million euros in the shape of subsidies to companies and private and public entities, which led to purchases and projects to the tune of 90 million euros. A significant part of this aid took the form of 41 measures included in the EVE-IDEA Agreement, with a budget of 12.66 million euros.

From the technological point of view, special mention should be made of two flagship projects which, after several years of development, were officially commissioned and came into service last year. These projects were the wave power plant in Mutriku and the energiGUNE CIC (Cooperative Research Centre) at the Alava Technology Park. The Mutriku plant is a real milestone in the EVE strategic commitment to marine power, as it has become the leading facility on mainland Europe that generates electricity using wave power and supplies it to the grid. As regards the CIC energiGUNE, it is considered a fundamental infrastructure in the Energibasque technology structure. Its basic research projects aimed at obtaining products and patents in the field of energy storage will be a decisive factor in driving companies from the sector towards innovative solutions in this emerging market and with great future potential.

And the main EVE investment processes as a catalyst of the business and economic activity in the energy sector has focused on the activity of its investee companies, which have had a driving effect in their respective value chains. Special mention should here be made of the Lidera projects in the energy sector, whose first significant impact on business activity was noted in 2011:

• - IBIL, the company set up by EVE and Repsol (each holding a 50% stake) to deploy the electric vehicle charging infrastructure in the Basque Country, launched calls-to-tender to bid for the first vehicle charging stations and their communications and control system. The successful bidders worked intensely to deliver on time the more than 100 vehicle charging stations installed during the year and the ground-breaking IBIL Control Centre, which was publicly unveiled in November. This was further proof that the Basque Country is a clear benchmark in technology and in the new business models linked to the development of the electric vehicle. In 2011, EVE injected 5 million euros in the IBIL capital increase.

• - The AIE BIDELEK SAREAK was set up in the last quarter of the year by Iberdrola Distribución (54%) and EVE (46%) to deploy smart grids in Bilbao and Portugalete. BIDELEK awarded the contract to supply the equipment for the first phase of the project, including over 30,000 meters and the remote management, monitoring and automation equipment for over 150 Transformation Centres (CTs).

• - In the field of marine power, Bimep S.A. was set up, with a total share capital of 10 million euros, and with EVE holding a 80% and IDAE, the Spanish Government's Energy Agency, a 20% stake. In 2011, the EVE issued calls to tender and awarded contracts for the most important Bimep supplies (underwater cable, substation), the Armintza-Lemoiz wave power testing and experimenting infrastructure, so that the companies could begin work on its installation and commissioning.

The EVE posted an after-tax profit of 157 million euros in 2011. As in the previous year, the sale of EVE shares in Naturgas, which was agreed as 10% in 2011, had a huge impact on that result. Special mention should also be made of the transfer of 160 million to the Basque Government during the year.

5 comments
  • @Gtzl
    2012 September 13

    Comentario de Twitter:
    RT @TCI_2012: Basque Gov. invested €40M in energy projects in 2011 http://t.co/6fb6ntq8 Learn more at Renewable Energy #clustertour http ...

  • @orkestra
    2012 September 13

    Comentario de Twitter:
    RT @TCI_2012: Basque Gov. invested €40M in energy projects in 2011 http://t.co/6fb6ntq8 Learn more at Renewable Energy #clustertour http ...

  • @MatsWilliams
    2012 September 13

    Comentario de Twitter:
    RT @TCI_2012: Basque Gov. invested €40M in energy projects in 2011 http://t.co/6fb6ntq8 Learn more at Renewable Energy #clustertour http ...

  • @jamierwilson
    2012 September 13

    Comentario de Twitter:
    RT @TCI_2012: Basque Gov. invested €40M in energy projects in 2011 http://t.co/6fb6ntq8 Learn more at Renewable Energy #clustertour http ...

  • @SmartGridSpain
    2012 September 7

    Comentario de Twitter:
    El EVE realizó en 2011 inversiones en proyectos energéticos por valor de 40 millones de euros. http://t.co/pbmVfHzW

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