Summary sheet
Caja de Ahorros y Monte de Piedad de Navarra
EIB loan for financing renewable energy and energy efficiency projects.
The loan will be dedicated to investments by corporates and public entities in energy efficiency and renewable energies. The renewable energy projects will include mostly wind farms and photovoltaic plants. The energy efficiency projects will comprise housing rehabilitation, municipal buildings refurbishment or energy management.
This operation intends to bring environmental benefits by supporting projects that help to mitigate climate change and reduce energy consumption. The individual schemes are likely to be small and are expected to have limited environmental impacts. The financial intermediary shall ensure compliance with national and European environmental and biodiversity regulations.
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. However, it is expected that most of the projects will be developed by private companies that are not subject to EU Procurement Directives.