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    Signature(s)

    Amount
    € 120,000,000
    Countries
    Sector(s)
    Germany : € 120,000,000
    Industry : € 120,000,000
    Signature date(s)
    17/12/2009 : € 120,000,000

    Summary sheet

    Release date
    27 October 2009
    Status
    Reference
    Signed | 17/12/2009
    20080685
    Project name
    Promoter - financial intermediary
    Innovative Heating Systems
    Vaillant GmbH
    Proposed EIB finance (Approximate amount)
    Total cost (Approximate amount)
    EUR 105 million
    EUR 210 million
    Location
    Sector(s)
    Description
    Objectives

    The project concerns the promoter’s several RDI investments aimed at improving the energy efficiency and environmental compatibility of residential heating, air-conditioning and power generation systems, thereby reducing fossil fuel consumption and CO2 emissions. The project will be carried out between 2009 and 2011 at the promoter’s R&D centres, mainly in Germany.

    The project will contribute to developing the promoter’s knowledge and know-how in the field of energy-efficient heating and air-conditioning technologies and, through the resulting increased use of renewable energy technologies for HVAC applications, it is expected to bring about positive environmental results in terms of reduction of energy consumption, particularly in residential buildings, and of carbon emissions.

    Environmental aspects
    Procurement

    The project concerns investments in research and development that are expected to be carried out in existing facilities already authorised in which case an EIA therefore would not be required by EIA Directive 85/337/EEC, amended by Directives 97/11/EC and 2003/35/EC. However, the Bank’s services will verify details, and especially the ones related to the location of the R&D facilities, during the project’s due diligence.

    Procurement is expected to be in line with EIB guidelines for private sector projects. The Bank’s services will verify details during the project’s due diligence.

    Disclaimer

    Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
    They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

    General enquiries and comments

    The EIB is committed to open communication and encourages constructive stakeholder input regarding its activities.
    Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
    Alternatively, the EIB can be contacted through its external offices.
    Queries regarding details of a specific project, in particular when it is under appraisal by the EIB, should preferably be addressed directly to project promoters.

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    Complaints mechanism

    Any complaint regarding alleged maladministration can be lodged via the EIB Complaints Mechanism. The European Ombudsman acts as an independent external accountability mechanism of the EIB.

    Zero tolerance against fraud and corruption

    The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Investigations Division. All reports will be treated as strictly confidential and handled in line with EIB investigation procedures and the EIB Group Anti-Fraud Policy.

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