Summary sheet
The project consists in a green securitisation in support of new financing to private individuals in Poland for investments in renewable energy and energy efficiency, fully contributing to Climate Action.
The aim is to support new investments in Renewable Energy and Energy Efficiency. The investments will include financing of retail solar panels and heat pumps installations, as well as other related eligible investments.
The project is in line with the InvestEU objective of the development of the energy sector in accordance with the Energy Union priorities. The Project will contribute to the timely deployment of renewable energy production capacity in Poland and it supports Poland's National Energy and Climate Plan (NECP) strategic targets to increase the share of renewables.
The financing of this project contributes for 100% to the Bank's lending priority objectives on Energy (Renewable Energy and Energy Efficiency) as well as 100% on Climate Action and Environmental Sustainability (Climate Action) as well as Economic and Social Cohesion (transversal). At least 60% of the loans are expected to be in Less Developed regions, with up to 28% of the Final Recipients located in Just Transition Mechanism areas.
The financing of Photovoltaic systems and Energy Efficiency investments contributes to the EU 2030 decarbonisation goals and to EIB's priority of supporting the transition to a low-carbon, environmentally friendly and climate-resilient economy. As the project will produce electricity from low carbon sources, it will address the market failure of negative climate and environmental externalities, through the reduction of carbon emissions and air pollution (compared to fossil-fuel generation).
In terms of project results, the sub-projects are expected to have a positive economic return and to generate a positive broader social benefit. Building on the Intermediary's good track record, it is expected that EIB funds be utilized in an efficient and timely manner.
EIB's intervention will facilitate the financing and implementation of renewable energy and energy efficiency projects through private individuals. The operation will support the Borrower's capacity to on-lend at attractive financing conditions and meet the growing demand for Solar and Heat pumps financing from private individuals. The Project itself, the first green securitisation in Poland, will in addition contribute towards the strengthening of the Capital Market Union (CMU). Thanks to the very innovative nature and to the EIBG structuring advice, the Project is expected to have a signaling effect and further promote "Green Securitizations" in Poland and the Baltics.
The operation would not have been carried out (to the same extent) by the EIB without the InvestEU support.
Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.
Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.