Summary sheet
- Energy - Electricity, gas, steam and air conditioning supply
The project consists of a delinked risk sharing operation with Unicredit on an existing loan portfolio financing projects in the renewable energy and infrastructure sectors.
The aim is to enhance access to finance for eligible renewable energy projects across the EU and thus contribute to the EU-wide target of 32% of renewable energy in gross final energy consumption (RES) by 2030 as set out in the EU RE Directive 2018/2001. As a number of projects should be located in EIB Cohesion Priority Regions, the operation is also eligible under Article 309 (a) "projects for developing less-developed regions" and (c) "common interest". Ultimately, this project will contribute to the EIB's lending priority policy on social cohesion, renewable energy and climate action.
The projects and associated transmission lines fall within Annex II of the environmental impact assessment (EIA) directive (Directive 2011/92/EU, amended by the EIA Directive 2014/52/EU 2011/92/EU). All the projects shall be screened in by the competent authority and be subject to an environmental impact assessment (EIA) process, in order to obtain the required environmental permits. All the projects and associated infrastructure shall be located outside Natura 2000 sites or other protected areas. The authorisation procedure and compliance with the relevant EU directives, specifically Habitats and Birds Directives (92/43/EEC and 2009/147/EC respectively), will be further assessed at appraisal, in particular the potential cumulative impacts assessment and the impacts on protected flora and fauna, including Natura 2000 sites.
The expected final beneficiaries have been assessed by the EIB as being private companies not being subject to EU rules on public procurement or concessions. However, the EIB will require Unicredit to take all the requisite measures to ensure that the procurement procedures carried out by the final beneficiaries for the sub-projects comply with the relevant EU legislation and the applicable national legislation.