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Signature(s)

Amount
€ 250,000,000
Countries
Sector(s)
Germany : € 35,350,000
Sweden : € 50,850,000
Italy : € 163,800,000
Industry : € 250,000,000
Signature date(s)
19/11/2021 : € 35,350,000
19/11/2021 : € 38,800,000
19/11/2021 : € 50,850,000
19/11/2021 : € 125,000,000
Link to source

Summary sheet

Release date
1 December 2021
Status
Reference
Signed | 19/11/2021
20200783
Project name
Promoter - financial intermediary
ELECTROLUX SUSTAINABLE HOME APPLIANCES
ELECTROLUX AB
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 250 million
EUR 585 million
Location
Sector(s)
Description
Objectives

The project comprises a selection of the Promoter's planned expenditures in research, development and innovation (RDI) for the development of energy-efficient white goods and small home electric appliances. The project will be carried out in the Promoter's research and development (R&D) centres in Italy, Germany and Sweden and to a lesser extent in other smaller R&D facilities in the EU in the period 2021-2023.

The financing supports the Promoter's leading research in improved performance, user-friendliness, lower energy consumption and lower use of resources for a range of such household goods.

Additionality and Impact

The financing of this project supports RDI activities that generate significant positive knowledge, technology and environmental externalities, through the creation of innovative processes, products or services and through skills development and upgrading.

 

The Bank's contribution to the project is supported by a combination of its additionality profile, flexible drawdown terms, thereby facilitating the projects financing and full implementation.


Environmental aspects
Procurement

RDI activities on home electric appliances are not listed in the annexes of the EIA directive 2011/92/EU amended by directive 2014/52 EU; therefore, the project is not subject to the EIA directive. The Bank's services will review the environmental aspects of the project during the due diligence process.

The Promoter has been assessed by EIB as being a private company not operating in the utilities sector and not having a status of a contracting entity, and is thus not subject to EU rules on public procurement. However, if at the project appraisal, the EIB were to conclude that the Promoter is subject to the EU public procurement legislation then the Bank would duly inform the Commission Services and would require the Promoter to apply those rules.

Link to source

Disclaimer

Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

Documents

Environmental and Social Data Sheet (ESDS) - ELECTROLUX SUSTAINABLE HOME APPLIANCES
Publication Date
22 Dec 2021
Document language
Main Topic
Lending
Document Number
134230659
Document Focus
Environmental Information
Project Number
20200783
Sector(s)
Regions
Publicly available
Download now
Environmental and Social Completion Sheet (ESCS) - ELECTROLUX SUSTAINABLE HOME APPLIANCES
Publication Date
30 Dec 2024
Document language
Main Topic
Lending
Document Number
238157438
Document Focus
Environmental Information
Project Number
20200783
Sector(s)
Regions
Publicly available
Download now

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General enquiries and comments

The EIB is committed to open communication and encourages constructive stakeholder input regarding its activities.
Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
Alternatively, the EIB can be contacted through its external offices.
Queries regarding details of a specific project, in particular when it is under appraisal by the EIB, should preferably be addressed directly to project promoters.

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Media-related enquiries can be addressed to the EIB Press Office. Please also visit our Media information section.

Complaints mechanism

Any complaint regarding alleged maladministration can be lodged via the EIB Complaints Mechanism. The European Ombudsman acts as an independent external accountability mechanism of the EIB.

Zero tolerance against fraud and corruption

The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Fraud and Investigation division. All complaints will be treated as strictly confidential and handled in line with the EIB investigation procedures and the Anti-Fraud Policy.

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