The European Investment Bank (EIB), Caixa Catalunya and “la Caixa” are set to finance projects included in the Barcelona Provincial Council’s energy and climate change programme comprising a total investment of EUR 500 million. The operation was launched today in a ceremony at the Provincial Council’s offices attended by EIB Vice-President Carlos da Silva Costa.

The EIB Vice-President stated: “I am delighted to see that Barcelona is in the vanguard of this type of project. The Provincial Council is pioneering the large-scale use of renewables and creation of energy efficient public buildings. Let us hope that its successful example will be followed by other regions, not only in Spain but throughout Europe. Programmes of this kind – which clearly contribute to achievement of the EU’s energy efficiency and sustainability objectives – will therefore constitute a priority in the gamut of the Bank’s activities.”

The EIB has set up two credit lines of EUR 125 million each. These will be managed by Caixa Catalunya and “la Caixa”, which will also contribute to funding the programme, and are designed to partly finance small and medium-scale solar power and energy efficiency projects in the Province of Barcelona.

The aim of the Barcelona Provincial Council’s programme is to install photovoltaic and other types of renewable energy equipment, mainly in the Province’s municipal buildings, and to carry out investments to improve the energy efficiency of especially public buildings and street and traffic lighting. All types of investment sponsored by public entities – mainly municipalities – or private holders of public works concessions will be eligible. This initiative covers the Province’s 311 municipalities and a population of some 4.5 million.

The Barcelona Provincial Council’s programme will foster the objectives of the so-called “Covenant of Mayors” promoted by the European Commission, to which more than 130 municipalities in the Province of Barcelona have signed up – thereby committing to reducing their greenhouse gas emissions by more than the EU objective of 20% by 2020.

The project chimes perfectly with the Bank’s current priorities as under the EU’s sustainable, competitive and secure energy strategy, the EIB focuses on financing renewable energy and energy efficiency projects.

The European Investment Bank (EIB) is the European Union’s financing institution promoting EU objectives. Created in 1958, it operates in the 27 EU Member States and more than 130 other countries around the globe.