Release date: 22 June 2016
Promoter – Financial Intermediary
Financing of new near-zero-energy buildings (NZEB) and renovation investments to improve energy efficiency of existing buildings in the Helsinki metropolitan area
The improvement of energy efficiency of new and existing buildings will reduce energy consumption and lower CO2 emissions, contributing to security of supply and mitigation objectives.
- Services - Real estate activities
Proposed EIB finance (Approximate amount)
EUR 180 million
Total cost (Approximate amount)
EUR 434 million
Through the project several new residential NZEB buildings, as per the requirements of Directive 2010/31/EU on the energy performance of buildings (Article 9(1)), will be constructed in existing built environments, which after completion will reduce energy consumption and pollutant emissions compared to the business-as-usual scenario (in compliance with the current regulation).
The promoter has been assessed by the EIB as being a private company not operating in the utilities sector and not having the status of a contracting entity, thus not subject to EU rules on public procurement. However, if after the project appraisal, the EIB were to conclude that the promoter is after all subject to EU public procurement legislation (i.e. Directive 2004/17/EC), then the Bank would require the promoter to ensure that contracts for the implementation of the project have been/will be tendered in accordance with the relevant applicable EU procurement legislation (Directive 2004/17/EC and Directive 92/13/EEC), with publication of tender notices in the Official Journal of the EU, as and where required.
Signed - 11/11/2016
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).