Release date: 5 March 2014
Promoter – Financial Intermediary
Banco Santander ChileLocation
Description
The Framework Loan will support renewable energy and energy efficiency projects in Chile.
Objectives
The objective is to mitigate climate change by supporting renewable energy and energy efficiency projects in Chile.
Sector(s)
Proposed EIB finance (Approximate amount)
EUR 200 million
Total cost (Approximate amount)
EUR 490 million
Environmental aspects
The project will focus on medium to large sized projects, which due to their technical characteristics may require a mandatory environmental impact assessment or a review by the competent authority for the need to carry out an EIA. Environmental and social pre-screening of the projects, including connection infrastructure where applicable, will be required. The experience, procedures and capacity of the Financial Intermediary to check eligibility, perform due diligence and monitor projects following EIB’s environmental and social policy and standards will be appraised. Ex-ante approval of allocations by the Bank may be required if deemed necessary. Large investment schemes will be subject in all cases to ex-ante environmental and social due diligence by the EIB.
Procurement
The Bank will require the promoter to ensure that implementation of the project will be done in accordance with the Bank’s Guide to Procurement.
Status
Signed - 30/06/2014
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).