Sep.9 (GMM/Inautonews.com) Red Bull will be powered by Renault engines until at least the end of 2016, it was announced at Monza on Friday.

The deal will ensure F1’s reigning championship-winning team, already powered by Renault’s V8 unit since 2007, will transfer to the French marque’s new V6 turbo engine in 2014 and beyond.

A media statement said the new deal will involve Red Bull and Renault collaborating “to develop innovative technical solutions for the V6-based power unit”.

“Red Bull Racing and Renault share the views that stability is a fundamental condition to perform at the top levels of competition,” said Renault Sport F1 president Bernard Rey.

Renault’s managing director Jean-Francois Caubet added that the deal, to utilise Red Bull’s “input, resources and vast in-house F1 car expertise”, will also benefit Renault’s “other team partners” like Lotus-Renault and Team Lotus.

“We’re obviously thrilled to announce this significantly enhanced agreement with the Renault-Nissan alliance,” confirmed Red Bull team boss Christian Horner.