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Signature(s)

Amount
€ 80,000,000
Countries
Sector(s)
Spain : € 80,000,000
Energy : € 8,160,000
Transport : € 71,840,000
Signature date(s)
4/12/2024 : € 8,160,000
4/12/2024 : € 71,840,000
Link to source

Summary sheet

Release date
22 October 2024
Status
Reference
Signed | 04/12/2024
20230530
Project name
Promoter - financial intermediary
BILBAO PORT EXPANSION
AUTORIDAD PORTUARIA DE BILBAO
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 80 million
EUR 165 million
Location
Sector(s)
  • Energy - Electricity, gas, steam and air conditioning supply
  • Transport - Transportation and storage
Description
Objectives

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.

Additionality and Impact

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.


Environmental aspects
Procurement

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.

Milestone
Under appraisal
Approved
Signed
21 November 2024
4 December 2024
Link to source
Summary sheet

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) - BILBAO PORT EXPANSION
Publication Date
26 Nov 2024
Document language
Main Topic
Lending
Document Number
233910475
Document Focus
Environmental Information
Project Number
20230530
Sector(s)
Regions
Countries
Publicly available
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