Release date: 25 March 2008
Promoter – Financial Intermediary
Banco Espirito Santo de Investimento S.A.
Location
Description
The proposed project is an investment fund providing equity and quasi-equity principally for the financing of renewable energy (and also for other infrastructure projects) on the Iberian Peninsula.
Objectives
The objectives of the fund are to establish a diversified portfolio of mainly new-build infrastructure assets . The renewable energy investments will contribute in particular to EU and EIB priority objectives with regard to combating climate change and supporting energy efficiency and renewable energy development, whilst at the same time producing an attractive return for investors.Given its regional focus, most of the investments are expected to be located in convergence regions thus supporting economic development.
Sector(s)
Proposed EIB finance (Approximate amount)
EUR 15-20 million.
Total cost (Approximate amount)
EUR 100 million, indicatively.
Environmental aspects
The environmental impact of most of the renewable energy and other infrastructure investments targeted by the Fund is likely to be limited, with no significant negative residual effects. Due to their technical characteristics, some of these investments may fall under Annex I or II of the EIA-Directive. Details of the due diligence procedures to be carried out by the Fund Manager with regard to this aspect will be determined during appraisal.
Procurement
The Fund’s investment guidelines will be required to ensure that contracts for the implementation of individual schemes have been tendered in accordance with the relevant EU legislation, including publication of tender notices in the EU Official Journal, as and where appropriate. Details will be verified during appraisal.
Status
Signed - 27/06/2008
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).