Release date: 23 September 2016
Promoter – Financial Intermediary
WHEATLEY GROUPLocation
Description
Financing of investments in the regeneration of Wheatley Group's existing social housing stock to meet Scottish and EU energy efficiency targets and investments in new energy efficient social housing to meet Scottish demand for social and affordable housing as well as housing and integration support for refugees in Scotland.
Objectives
The Project comprises the financing of: (a) the retrofitting of existing social housing stock to meet Scottish and EU energy efficiency standards; (b) the construction of new low-carbon social housing; and (c) the provision of housing and integration for refugees.
Sector(s)
- Industry - Construction
- Urban development - Construction
Proposed EIB finance (Approximate amount)
GBP 185 million (EUR 216 million)
Total cost (Approximate amount)
GBP 400 million (EUR 467 million)
Environmental aspects
Compliance with the relevant EU Directives will be verified during appraisal: EU EIA Directive 2011/92/EU, amended by Directive 2014/52/EU, EU SEA Directive 2001/42/EC, EU Habitats Directive 92/43/EEC and EU Birds Directive 2009/147/EC. The status of any environmental studies and public consultations related to the urban renewal, upgrading and construction investments will be reviewed during project appraisal. Energy efficiency requirements in line with the EU Directive on the Energy Performance of Buildings 2010/31/EU will also be further assessed during project appraisal.
Procurement
The Bank will require the Promoter to ensure that contracts for the implementation of the project have been/shall be tendered in accordance with the relevant applicable EU procurement legislation (Directives 2004/18/EC, or 2014/24/EU where applicable, and/or 2004/17/EC, or 2014/25/EU where applicable, and/or 2014/23/EU where applicable, as well as Directives 89/665/EEC and 92/13/EEC) as interpreted by the Court of Justice of the EU, with publication of tender notices in the EU Official Journal, as and where required.
Status
Signed - 13/06/2018
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).