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Signature(s)

Amount
€ 750,000,000
Countries
Sector(s)
Germany : € 750,000,000
Transport : € 750,000,000
Signature date(s)
3/05/2024 : € 275,000,000
14/12/2023 : € 475,000,000
Link to source

Summary sheet

Release date
6 July 2023
Status
Reference
Signed | 14/12/2023
20220670
Project name
Promoter - financial intermediary
BADEN-WUERTTEMBERG ELECTRIC TRAINS
LANDESANSTALT SCHIENENFAHRZEUGE BADEN-WUERTTEMBERG
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 750 million
EUR 1600 million
Location
Sector(s)
Description
Objectives

The loan will finance the acquisition of new battery-powered trains by SFBW, the rolling stock provider of the German State of Baden-Württemberg, based in Stuttgart. The electric trains will operate regional railways in Baden-Württemberg and occasionally other neighbouring federal states, as well as its bordering states, France or Switzerland.

The project will increase the supply and quality of the passenger transport services provided in Baden-Württemberg. In line with the EU objectives, it will thereby promote sustainable transport.

Additionality and Impact

The Project will replace life expired rolling stock on the regional railway network for Baden-Württemberg. The Project is expected to contribute to modal shift from road to rail (or at least maintain rail modal share). This will contribute to the reduction of CO2 emissions, traffic congestion, road accidents, air pollution and noise levels, operating and maintenance costs. The Project is 100% eligible under Climate Action.


The project fleet will help realise the objectives of specific studies for the optimal vehicle choice on non-electrified routes to replace diesel vehicles. They will also support the plans for improving the wider public transport offer in Baden-Württemberg as specified in its transport policy strategies and objectives.


The Bank's loans have been a cornerstone of the borrower's multi-billion investment programme into regional rolling stock ever since its establishment, providing a substantial contribution to the programme's financeability and affordability and attracting third-party financing.


The loan will offer key benefits such as a very long loan maturity and flexibility with respect to availability period, interest rate arrangements and grace periods as well as to drawdowns, which will enable the required alignment with the implementation and financial modalities of the Project.



Environmental aspects
Procurement

Since the project involves the acquisition of new rolling stock, which is out of scope for the Environmental Impact Assessment (EIA) Directive (2014/52/EU amending 2011/92/EU), the Habitats Directive (92/43/EEC) and Birds Directive (2009/147/EC). The need of EIA and/or assessment according to the Habitats Directive for associated facilities (e.g. maintenance workshops or depots) and arrangements for the scrapping of dismissed rolling stock will be assessed during appraisal. By promoting the modal shift from road to rail, the project will generate environmental and safety benefits.

The promoter has to ensure that contracts for the implementation of the project have been tendered in accordance with the relevant applicable EU procurement legislation, Directive 2014/24/EU, as well as Directive 89/665/EEC, as interpreted by the Court of Justice of the EU, with publication of tender notices in the EU Official Journal, as and where required.

Milestone
Under appraisal
Approved
Signed
18 October 2023
14 December 2023
Link to source
Other links

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) - BADEN-WUERTTEMBERG ELECTRIC TRAINS
Publication Date
24 Oct 2023
Document language
Main Topic
Lending
Document Number
169642841
Document Focus
Environmental Information
Project Number
20220670
Sector(s)
Regions
Countries
Publicly available
Download now

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