Summary sheet
The loan will finance the expansion of the second phase of the Bilbao Port's Central Pier (Espigón Central), including the development of onshore power supply network and renewable energy generation facilities within the port limits.
The aim is to provide additional port capacity and increase efficiency in the Trans-European Transport Network (TEN-T) network, which will reduce maritime transport costs, support the offshore renewable energy industry and provide the port with additional onshore power supply capacity as well as renewable energy sources.
The Project will provide additional port capacity and increase efficiency in the Trans-European Network-Transport (TEN-T network). It is expected to reduce maritime transport costs, support the offshore renewable energy industry and provide the port with additional OPS capacity as well as renewable energy sources.
EIB financing provides the client with attractive financial conditions, including long tenor and grace periods -especially compared to alternative funding sources- and flexible loan terms, such as long grace and disbursement periods, which are therefore better suited for the implementation of the Project. EIB's financing also supports the Promoter in achieving diversification of funding sources and contributes to the stability of their financing needs.
Two Environmental Impact Assessments (EIA) were already carried out in 2013. The Promoter was required to provide additional information to ensure the project's compliance with the Directive 2014/52/EU amending the EIA Directive 2011/92/EU, which will be further verified at appraisal. Compliance with the Water Framework Directive 2000/60/EC (as amended), the Floods Directive 2007/60/EC, the Habitats Directive 92/43/EEC and Birds Directive 2009/147/EC will also be further verified at appraisal.
The Promoter has to ensure that contracts for implementation of the Project will be tendered in accordance with the applicable EU procurement legislation, Directive 2014/25/EU as well as Directive 92/13/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.
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
News & Stories
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.
Media enquiries
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.
Related publications