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    Reference: 20140768
    Release date: 22 July 2015

    Promoter – Financial Intermediary

    Landesbank Saar

    Location

    Description

    Risk-sharing instrument to cover up to 50% of credit risk associated with a portfolio of renewable energy loans outstanding on SaarLB's balance sheet. As a condition and with the resources made available by the guarantee, SaarLB will grant new loans to eligible renewable energy projects. The new loans will not be covered by the guarantee.

    Objectives

    This operation will be set up as a risk-sharing instrument covering a portfolio of renewable energy assets. The instrument is designed to facilitate the intermediary to undertake new projects.

    Sector(s)

    Proposed EIB finance (Approximate amount)

    EUR 150 million

    Total cost (Approximate amount)

    EUR 300 million

    Environmental aspects

    The project comprises a multi-sector multi-scheme operation. All of the schemes are expected to fall under Annex II of Environmental Impact Assessment (EIA) Directive 2011/92/EU. Should any scheme have a negative impact on an area forming part of the Natura 2000 network (as defined under Habitats Directive 92/43/EEC and Birds Directive 79/409/EEC), then the Bank would require the financial intermediary and the final beneficiary to act according to the provisions of the aforementioned directives as transposed into national law.

    Procurement

    The Bank will require the promoter to ensure that contracts for the implementation of the project have been/shall be tendered in accordance with the relevant applicable EU procurement legislation (Directives 2004/18/EC and/or 2004/17/EC as well as Directives 89/665/EEC and 92/13/EEC) as interpreted by the Court of Justice of the EU, with publication of tender notices in the EU Official Journal, as and where required.

    Status

    Signed - 30/06/2016

    Disclaimer

    Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The data provided on this page is therefore indicative and cannot be considered to represent official EIB policy (see also the Explanatory notes).

    Related tags

    Germany France Energy