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    Reference: 20160441
    Release date: 29 November 2016

    Promoter – Financial Intermediary




    EIB loan to finance the construction of energy-efficient social housing units in Navarra, Spain


    The project will finance the construction of new social housing units with high energy-efficiency standards in the region of Navarra. As well as providing affordable housing, the buildings will meet requirements set for nearly zero-energy Buildings (NZEB), thereby reducing energy consumption and lowering CO2 emissions.


    Proposed EIB finance (Approximate amount)

    EUR 40 million

    Total cost (Approximate amount)

    EUR 80 million

    Environmental aspects

    Through the project several new social housing nearly zero-energy buildings, as per the requirements of the EU Directive on the energy performance of buildings 2010/31/EU (EPBD), will be constructed in existing built environments. After completion energy consumption and pollutant emissions will be reduced 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 - 6/07/2017


    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).

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