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    Reference: 20160472
    Release date: 6 December 2016

    Promoter – Financial Intermediary

    BANCO BPI SA

    Location

    Description

    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.

    Objectives

    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 corporate and small and medium-sized enterprise (SME) sectors in Portugal. The investments involve a variety of energy-efficiency and renewable-energy measures, such as energy-efficiency improvements in buildings, industrial and agricultural energy-efficiency interventions, energy-efficient public lighting and small renewable-energy installations for self-consumption. 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.

    Comments

    The project targets all major economic sectors eligible for EIB financing.

    Sector(s)

    • Energy - Electricity, gas, steam and air conditioning supply
    • Industry - Construction

    Proposed EIB finance (Approximate amount)

    EUR 50 million

    Total cost (Approximate amount)

    EUR 67 million

    Environmental aspects

    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 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.

    Procurement

    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.

    Status

    Signed - 21/12/2016

    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

    Portugal Energy Industry