Search En menu en ClientConnect
Search
Results
Top 5 search results See all results Advanced search
Top searches
Most visited pages

Signature(s)

Amount
€ 150,000,000
Countries
Sector(s)
Spain : € 120,000,000
Energy : € 150,000,000
Signature date(s)
29/11/2024 : € 30,000,000
29/11/2024 : € 120,000,000

Summary sheet

Release date
2 December 2024
Status
Reference
Signed | 29/11/2024
20240238
Project name
Promoter - financial intermediary
BBVA RISK SHARING EUROPEAN CLIMATE ACTION
BANCO BILBAO VIZCAYA ARGENTARIA SA
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 150 million
EUR 300 million
Location
Sector(s)
  • Energy - Electricity, gas, steam and air conditioning supply
Description
Objectives

The project consists in a funded de-linked risk sharing operation with BBVA concerning an existing portfolio of project finance loans, including renewable energy, infrastructure and other sectors. Through the EIB resources, the intermediary will provide new loans to eligible beneficiaries investing in renewable energy and other sustainable projects, in Spain and across Europe.

The aim is to provide new loans to support eligible renewable energy transactions in Spain and across Europe. The operation contributes to the EU-wide target of 32% of energy from renewable sources in gross final energy consumption (RES) by 2030, as set out in the EU RE Directive 2018/2001). Additionally, it further contributes towards the national renewable energy targets, including Spain's Integrated National Energy and Climate Plan (NECP), which aims for 42% renewable energy in the final energy consumption (RES) by 2030. It is envisaged for a number of projects to be located in EIB Cohesion Priority Regions. The project is therefore eligible under Article 309 (a) projects for developing less-developed regions and (c) common interest. Financing this project will contribute to the EIB's lending priority policy on social cohesion, renewable energy and climate action.

Environmental aspects
Procurement

The EIB will verify that 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 Bank will require BBVA 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.

Milestone
Under appraisal
Approved
Signed
13 September 2024
29 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) - BBVA RISK SHARING EUROPEAN CLIMATE ACTION
Publication Date
11 Dec 2024
Document language
Main Topic
Lending
Document Number
209934528
Document Focus
Environmental Information
Project Number
20240238
Sector(s)
Regions
Countries
Publicly available
Download now

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