Renewable Energies and Energy Efficiency
Renewable energy and energy-efficiency projects are at the heart of the EIB’s energy investment and contribute to making Europe’s energy supplies more sustainable, competitive and secure. Developing and expanding these projects is widely recognised as the best way to help the European Union achieve its energy and climate action objectives by 2020.
EIB lending for renewable energy has grown dramatically over the last few years to reach EUR 5.5bn in 2011. The majority of this lending is directed to wind and solar power generation. The Bank has become a key source of finance to the market in these sectors. It has also considerably boosted its lending for energy efficiency, which amounted to EUR 1.3bn in 2011. EIB financing for energy-efficiency projects covers both the supply side (e.g. combined heat and power – CHP, district heating) and the demand side (mainly public and private buildings). Energy efficiency considerations are mainstreamed into all projects appraised by the Bank.
The EIB has also developed other means of financing, such as equity and carbon funds, to further support renewable energy and energy-efficiency projects. It also works upstream with project promoters, providing technical assistance to develop projects. The EIB is involved in a significant pipeline of clean energy projects both inside and outside the European Union. It also manages and participates in several other initiatives or programmes related to energy and climate change, such as the Mediterranean Solar Plan (MSP), the GEEREF (Global Energy Efficiency and Renewable Energy Fund) fund of funds and the Green Initiative fund.
Furthermore, a number of recent joint EC/EIB initiatives provide further support for energy efficiency:
Wind energy and the EIB
Off-shore wind is an area of expertise where Europe is by far the world market leader. Wind energy, both onshore and offshore, is the most important renewable energy sector for the EIB. This film highlights the Bank’s role in supporting wind energy as part of its financing for renewable energies.
The EIB and sustainable development
This film tells the story of a successful financing partnership. Helios Bay is the New Caledonia's first photovoltaic plant located on the coast 40 km from Nouméa. With an installed capacity of 2.1 MW, this plant can feed into New Caledonia's grid 3 million KWh a year, equivalent to the consumption of 800 to 1 000 homes.
