SABADELL FL ENERGY EFF & RENEWABLES

The framework loan will be dedicated to supporting investments in renewable energy and energy efficiency in Spain. Most of the projects are expected to be onshore wind farms. The energy efficiency projects would be related to improvements of energy efficiency in large commercial buildings and to cogeneration. The Financial Intermediary is known to the Bank and has experience in the financing of these types of projects.

The proposed operation would support a series of investments in renewable energy and energy efficiency in Spain. The operation would contribute to the Spanish and EU energy and climate change objectives, notably the reduction of greenhouse gas emissions and the enhancement of energy security of supply.

This operation intends to bring environmental benefits by supporting projects that help to mitigate climate change. The individual schemes to be financed are likely to be small and would be expected to have limited environmental impacts. However, some of the schemes might well be categorised as Annex I or II-type projects under the EIA Directive, which would require a mandatory environmental impact assessment or a review by the competent authority on the need to carry out an EIA. The Bank will assess the promoter’s capacity and procedures to ensure compliance with national and European environmental and biodiversity regulations as well as its capacity to support the Bank's Public Disclosure Policy, which aims at facilitating access by the public to environmentally relevant information.

The Bank will review systems and procedures applied by the promoter during appraisal, including compliance with relevant national and EU legislation, as defined by Procurement Directive 2004/17/EC, and publication in the Official Journal of the EU where appropriate.