Summary sheet
The operation consists of a synthetic securitisation under InvestEU of a portfolio originated by BBVA to support green projects carried out by small, medium-sized enterprises (SMEs) and mid-caps in Spain.
The aim is to finance energy efficiency projects, in particular the construction of nearly zero energy buildings (NZEB+) residential buildings carried out by the final beneficiaries (real estate developers).
The proposed operation falls within the scope of the EIB's Environmental and Social Standards - "Standard 11 Intermediated Finance". The Borrower / Financial Intermediary has adequate capacity, systems and processes in place for identifying, assessing, managing and monitoring environmental, climate and social (ECS) risks related to the potential sub-projects benefitting from EIB support. The Final beneficiaries will be required to comply with applicable national and EU legislation in respect of environmental and social matters, as appropriate.
Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.