Spain: A €35 mln loan from the European Investment Bank (EIB) will be used for innovative projects that the manufacturer plans to implement in the country in 2021-2024.
In an official announcement, Talgo emphasizes that the loan will be used to develop key components and systems for low-carbon rolling stock. The manufacturer previously stated that its plans to invest €14 mln in R&D in 2021 (actual spending in 2019 was almost €11 mln).
Talgo is actively working in the direction of hydrogen rolling stock technologies. Thus, the manufacturer is implementing a project to modernize the Travca locomotive for hybrid traction (hydrogen + catenary). Trenvista.net reports that the vehicle, named TPH2, is due to start undergoing static tests in March: the task of the project is to test Talgo’s own hydrogen propulsion system, which was introduced in the autumn of 2020. From the summer, the rolling stock is planned to be sent to undergo dynamic tests.
Also in 2020, Talgo announced work on the development of Vittal-One hydrogen trains for suburban and regional transportation based on the series of electric trains of the same name. It is assumed that the train will be able to reach a maximum speed of 140 km/h when powered solely by hydrogen fuel cells, and 220 km/h when powered by a catenary. The company has said it plans to introduce such trains in 2023.
A sketch of Vittal-One hydrogen trains by Talgo. Source: Talgo
It is worth noting that in January of this year, Talgo, together with 21 other companies from different industries and 11 associations, created the SHYNE consortium to promote hydrogen technologies. It is called the largest in Spain: its participants are implementing hydrogen projects with a total investment requirement of €3.2 bln. In particular, the largest Spanish oil and gas company Repsol, which is supposed to supply hydrogen produced using renewable energy sources for Talgo projects, has also joined SHYNE.
Talgo is not the first rolling stock manufacturer to use the green financing tools offered by banks for low emission projects. For example, in the summer of 2021, Alstom received €400m green guarantee facility from BBVA as recognition the manufacturer’s contribution to achieving the UN sustainable development goals of promoting the development of sustainable infrastructure and industry, stimulating related innovation and developing safe, economically and environmentally friendly sustainable cities and communities. Also in July 2021 in Russia, Sinara Transport Machines (STM) completed the debut issue of green bonds in the amount of 10 bln RUR (approx. $136 mln USD). The finances received by STM should be directed to one of the scenarios for the production of rolling stock by order of Russian Railways – electric trains and electric locomotives, including the new 3ES8 electric locomotive that should be presented soon.
