Financing of Renfe's new EMUs for Rodalies and Media Distancia services in Catalunya
posted on 4th Jun 2026 11:44
On 19 December 2025, the EIB announced that it had agreed to loan 500 million EUR to Renfe to part-finance the latter’s project to rejuvenate its EMU fleet used on Rodalies and Media Distancia services in Catalunya. The first instalment of 250 million EUR has been signed for. The loan forms part of the EIB’s strategy to support sustainable mobility in Spain, backed by InvestEU, an EU programme designed to mobilise over 372 billion EUR across the EU in investment by 2027.
Specifically, the 250 million EUR loan will be used to part-finance the construction of the 101 EMUs destined for use on both Rodalies and Media Distancia services, replacing ageing fleet members which were acquired in the early 1990s. The 101 EMUs form part of contracts awarded in March 2021 for 211 high-capacity EMUs for Rodalies and Cercanías services. In total, these contracts were worth 2.445 billion EUR.
One was awarded to Alstom for 1.447 billion EUR. This was for 152 100m long Class 452 EMUs. The other, worth 998 million EUR, was awarded to Stadler for 24 100 m long and 35 200 m long Class 453 EMUs. Both contracts include maintenance and spare parts for the first 15 years of the trains’ lives. Maintenance is to be shared between the manufacturers (51 %) and Renfe Fabricación y Mantenimiento (49 %).
A further contract, for 290 million EUR, was awarded to CAF in October 2022, for 28 Media Distancia Class 480 EMUs (see photo). In June 2023 this was increased by a further 32 EMUs, for 190 million EUR. In March 2023 CAF was also awarded a 192.7 million EUR contract for 29 Cercanías EMUs, with an option for nine more.
Of these trains, 101 are to be used in Catalunya:
- 69 (49 of these Class 452s, 20 Class 453) allocated to Rodalies services,
- 32 Class 480s for Media Distancia services.
The first of the new Class 452 Rodalies EMUs, built by Alstom, has been undergoing authorisation testing since early 2025. By the time these new trains start being used on commercial services, their operator will no longer be Renfe Viajeros, but Rodalies de Catalunya, a new company formed jointly by Renfe Viajeros (49.9 %) and the Generalitat de Catalunya (50.1 %), with an initial capital of 2.0 million EUR.
Renfe awards Cercanías and Media Distancia EMU maintenance contracts
In early December 2025, Renfe Viajeros announced that it had awarded three-year contracts, with a possible two-year extension, amounting to 266 million EUR, to Siemens, Alstom and CAF, for 372 EMUs. Should the extension occur, the contract value will rise to 433 million EUR. The contracts were awarded in seven lots, covering both Barcelona and Madrid and taking into account the manufacturers of these EMUs, some of which are now half a century old.
- Nertus (51 % Siemens and 49 % Renfe) will deal with 75 Class 447 EMUs, built by Bombardier/Alstom, CAF and Siemens. These are based at Cornellá, in Barcelona. The contract is worth 59 million EUR.
- Irvia (51 % Alstom and 49 % Renfe) is to take care of 40 more Class 447s, these based at Montcada and Mataró, together with 47 Class 465s (these are five-car CIVIAs). This contract is worth 64 millon EUR.
- Irvia will also undertake the maintenance of six Class 450 and 12 Class 451 double deck EMUs, these built by Alstom in the early 1990s. They are based at Vilanova i la Geltrú. The contract is worth 9.0 million EUR.
- Btren (51 % Alstom and 49 % Renfe) is to look after 14 elderly Class 470 (originally Class 440) EMUs, built between 1974 and 1985 and refurbished in the mid-1990s. These trains are based in various depots in the Barcelona area and are used on Media Distancia services. The contract is for 7.5 million EUR.
- Actren (51 % CAF and 49 % Renfe) is to provide maintenance for 82 Class 465 CIVIA EMUs, based at Atocha. The contract is valued at 44.5 million EUR. Actren will also look after 18 Class 449 EMUs used on Media Distancia services, based at Fuencarral, for 14.2 million EUR.
- Actren y Btren in consortium will look after 78 Class 446 EMUs at Móstoles and Humanes depots, for 68 million EUR.
