Übersicht
Framework loan to support a pipeline of small to medium-sized energy efficiency schemes to be developed in Italy.
By supporting energy efficiency investments in Italy, mainly the renovation of condominium buildings, the project will reduce carbon and air pollution, deliver health benefits through improved air quality and positive social impact through job creation and an improvement of the purchasing power of Italian households.
The proposed operation aims to finance energy efficiency ("EE") projects in Italy, mainly in residential buildings. EE investments in residential buildings suffer from a chronic lack of investments. The project is expected to deliver very good social benefits reducing carbon emissions, increasing comfort and air quality, social benefits that are not fully internalised by private investors. The project shows how to upscale and industrialise EE in residential buildings. The promoter is experienced in works of this nature.
The project is aligned with the the EU's and Bank's priority in the energy sector and with the climate action objectives.
The proposed operation is the first time the borrower enters into a "framework loan" financing type with the EIB, with funds allocation and disbursement mechanics designed to support a wide pipeline of small to medium sized projects.
The EIB loan offers terms and conditions (disbursement mechanics, interest rate options) more flexible than those normally offered by other financiers. The proposed disbursement period and tenor are longer than those usually offered by other banks.
The value added provided by the EIB is even more tangible under the current market instability and turmoil generated by the pandemic and the Russia-Ukraine conflict.
The project is in line with the Bank's priority lending objectives for energy efficiency (EE) and supports the Climate Action objective (100%). Given the scale, location and nature of the sub-projects in built-up urban areas an environmental impact assessment (EIA), as defined under the EIA Directive 2014/52/EU, amending the 2011/92/EU, is normally not required.
No procurement issues.