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Signature(s)

Amount
€ 41,600,000
Countries
Sector(s)
Germany : € 41,600,000
Urban development : € 41,600,000
Signature date(s)
25/11/2024 : € 41,600,000
Link to source

Summary sheet

Release date
2 December 2024
Status
Reference
Signed | 25/11/2024
20230015
Project name
Promoter - financial intermediary
BAVARIA ENERGY EFFICIENCY HOUSING II
DAWONIA REAL ESTATE GMBH & CO KG
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 42 million
EUR 105 million
Location
Sector(s)
Description
Objectives

This operation concerns an investment program comprising the construction of new energy efficient residential buildings and the energy efficiency renovation of residential buildings.

Both components (new construction and refurbishment) are expected to provide units for rent in Southern Germany.

Additionality and Impact

The proposed operation aims to finance energy efficiency ("EE") projects in Southern Germany.

The operation concerns the construction of high energy efficient residential units and the EE renovation of existing residential units. All units will be for rent only. The operation supports the EU's and Bank's priority in the energy efficiency sector and the EIB's climate action objectives.

Through energy-resource savings, it will contribute to achieving social and public benefits that are not typically internalised in the investment rationale of private investors, including the reduction of energy expenses by the tenants and the reduction of carbon and air pollution emissions.

Therefore, the project will be fully aligned with EU's priorities and goals established in the European Green Deal and particularly in the Renovation Wave. EE investment in residential buildings suffer from a chronical lack of investments.

The operation is expected to yield good economic and social benefits.

The Promoter is deemed fully capable of implementing the project considering its overall experience, including a previous EIB operation.

The EIB additionality to this operation is expected to provide a tangible value added, contributing to accelerate the implementation of the underlying EE schemes, by providing an unsecured term loan, which will be complemented by national promotional funding instruments.

Environmental aspects
Procurement

This operation is expected to bring environmental benefits by supporting investments in energy efficient new residential buildings and energy efficient building renovation that will result in a decrease of the total energy consumption and an increase the use of renewable energies and thus contributing to climate change mitigation. Given the scale, location and nature of the individual schemes in built-up urban areas, EIAs, as defined under the EIA Directive 2014/52/EU amending 2011/92/EU, will generally not be required. The Bank will assess the promoter's capacity and procedures to ensure compliance with national and European regulations.

The promoter has been assessed by the EIB as being a private company not being subject to EU rules on public procurement or concessions. However, if after the project appraisal, the EIB were to conclude that the promoter is after all subject to EU public procurement legislation, then the Bank would require the promoter to ensure that contracts for the implementation of the project have been tendered in accordance with the relevant applicable EU procurement legislation.

Milestone
Under appraisal
Approved
Signed
5 July 2024
25 November 2024
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) - BAVARIA ENERGY EFFICIENCY HOUSING II
Publication Date
11 Dec 2024
Document language
Main Topic
Lending
Document Number
174602124
Document Focus
Environmental Information
Project Number
20230015
Sector(s)
Regions
Countries
Publicly available
Download now

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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.

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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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