Veröffentlichungsdatum: 19 April 2021
Projektträger – zwischengeschaltetes Finanzinstitut
UNION DE CREDITOS INMOBILIARIOS SA ESTABLECIMIENTO FINANCIERO DE CREDITO
Multi-beneficiary intermediated loan (MBIL) to UCI for the financing of building renovation undertaken by individuals and homeowner associations in Spain and Portugal.
Additionality and Impact
The project seeks to improve the building renovation rate by
alleviating access to finance constraints faced by homeowner associations and
individuals undertaking energy efficiency investments in existing residential
buildings. The project will primarily finance deep renovations implemented by homeowners
associations in Spain and to a lesser extent in Portugal. The project will
bring positive externalities through reduced carbon emission, greater energy
efficiency and improved energy security. The project is fully aligned with the
EU Renovation Wave Strategy, and Spain and Portugal's 2021-2030 National Energy
Climate Plans and Long Term Renovation Strategies. The project supports the
climate action objectives of the Bank.
The financial intermediary is specialized in real estate investments and is one of the most active players in green financing in the Spanish market. It has demonstrated good capacities in the monitoring and reporting of EIB loans. By supporting a labour intensive activity as building rehabilitation, the project will stimulate job creation and foster economic growth after the Covid-19 crisis.
Through the acquisition of a highly-rated tranche in the securitisation, the EIB will lower the cost of funding and help mobilise other financers, increasing the appetite to the financing of building renovations implemented by homeowner associations. Following technical discussions with the financial intermediary, the project has aligned its scope to the draft EU Taxonomy and the Energy Efficient Mortgage Initiative framework.
The debt financing made available to private owners domiciled in Spain or Portugal will be used, among others, to finance the energy efficiency renovation of existing residential properties and the construction of new nearly zero-energy buildings (NZEB), as well as small/medium-scale energy efficiency projects carried out in existing residential properties.
- Stadtentwicklung - Baugewerbe/Bau
Vorgeschlagene EIB-Finanzierung (voraussichtlicher Betrag)
EUR 50 million
Gesamtkosten (voraussichtlicher Betrag)
Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.
Unterzeichnet - 6/05/2021