28 September 2016
Promoter – Financial Intermediary
ZAGREBACKA BANKA D.D.
Framework loan for financing small-scale investments targeting energy efficiency measures mainly in the private sector. The proposed operation relates to the Private Finance for Energy Efficiency (PF4EE) financial instrument.
PF4EE was established under the umbrella of the Bank's DEEP Green initiative, which aims to scale up financing for energy efficiency across a range of channels, including stimulating financial intermediaries into focusing more of their lending on energy efficiency projects.
The PF4EE loan targets the financing of energy efficiency and small renewable energy investments mainly in the private sector. More specifically, projects targeted will generate energy savings and enhance energy efficiency in buildings or production facilities, all located in Croatia. It will thus support national and European targets in these two areas and, as a result, supports the EU's climate change mitigation and security of energy supply objectives.
- Electricity, gas, steam and air conditioning supply
Proposed EIB finance (Approximate amount)
EUR 40 million
Total cost (Approximate amount)
EUR 54 million
This operation intends to bring environmental benefits by supporting schemes that reduce energy consumption and help to mitigate climate change. The individual schemes to be financed are likely to be small and are expected to have a very limited negative environmental impact. Most of the schemes are expected not to fall under the scope of Directive 2011/92/EU on environmental impact assessment (EIA) and therefore not to be subject to an EIA. If an investment scheme is subject to an EIA, the financial intermediary will be required to obtain the non-technical summary, and, where relevant, written confirmation from the competent authority that the investment will not have any significant negative impact on sites of nature conservation.
The promoters of the underlying sub-projects are private companies not operating in the utilities sector and not having the status of a contracting entity, and thus are not subject to EU rules on public procurement. However, if after the project appraisal, the EIB were to conclude that a sub-scheme is after all subject to EU public procurement legislation (i.e. Directive 2004/17/EC), then the Bank would require the financial intermediary to ensure that contracts for the implementation of the sub-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 - 5/12/2017