Summary sheet
The project involves a framework loan to support TECNOCAP Spa, a manufacturer of metal closures, in its energy efficiency and sustainable investments. These include improvements in production processes and energy efficiency measures, such as renovating buildings and installing photovoltaic systems in its industrial facilities located in Italy and the Czech Republic.
The aim is to support decarbonisation goals, lower energy usage and intensity, minimise environmental impact and air pollution, boost competitiveness, and create jobs for a positive social impact.
The support provided by the EIB to this operation addresses the market failures linked to the small scale of EE interventions in industry and the non-internalised positive externalities from energy savings, such as carbon and air pollution emission reductions. The operation will therefore allow the aggregation of small EE projects, reducing energy consumption and improving the environmental outcomes. The decrease in energy costs is a financial benefit for the promoter, together with the expected increase in revenues from improved productivity. The substitution of existing equipment will also contribute the modernization of the production process, increasing competitiveness and supporting economic growth in the regions involved (approximately 38% of the project will be in EIB "Cohesion Regions").
With this operation, the EIB will provide a concrete added value helping the implementation of the Promoter's sustainability strategy and decarbonisation targets. This will be achieved by providing access for EE investment at lower funding costs, offering a maturity beyond the tenor usually offered by commercial banks; allowing more flexible disbursement mechanics; offering interest rates options wider than those normally proposed by the market.
The operation aligns with the EIB's priority lending objectives for energy efficiency (EE) in the industrial sector for small, medium-sized enterprises and mid-caps, as for the Green Deal Industrial Plan and Green Deal Renovation Wave and for renewable energy (RE) as for REPowerEU and supports the Climate Action objective (100%). Given the location, type and extent of the sub-projects, mainly in built-up urban areas and in existing industrial facilities, an environmental impact assessment (EIA), as defined under the EIA Directive 2014/52/EU, amending the 2011/92/EU, is normally not required. Minor temporary negative environmental impacts (noise, dust) might be expected, impacts usually mitigated by proper works management. Some of the Projects may fall under Annex II of the Directive EIA Directive 2011/92/EU amended by 2014/52/EU. In those cases, the competent authority needs to screen the Projects and determine whether an Environmental Impact Assessment (EIA) is required or not. The Project will be appraised and monitored in line with the EIB's policies, including the Environmental and Social Sustainability Framework.
As a private company, the Promoter is not subject to EU rules on public procurement or concessions.
Arranger: Banca Finint S.p.A