14 June 2021
Promoter – Financial Intermediary
INSTITUTO DE EMPRESA SL
The project comprises the Promoter's investments in software and digitalisation development, the fit-out and equipping of a new university campus, the modernisation and rehabilitation of existing facilities that will be used for teaching, research, offices and student accommodation in Spain.
The project aims at improving the learning experience of students through digitalisation and newly equipped buildings and increasing the available space for student accommodation. The upgraded facilities will promote learning, which would then translate into better labour market outcomes for the benefit of graduate and postgraduate students and in positive externalities associated with a well-educated labour force.
Proposed EIB finance (Approximate amount)
EUR 30 million
Total cost (Approximate amount)
EUR 68 million
Council Directive 2011/92/EU as amended by Directive 2014/52/EU on Environmental Impact Assessments (EIA) does not specifically cover educational activities, leaving it at the discretion of the responsible national authorities to request an EIA on the basis of the location and scale of the works concerned. However, universities - such as the institutes of technology - are likely to fall under Annex II of EIA Directive 2014/52/EU with respect to urban development. Social and environmental aspects as well as any issues related to historical and cultural heritage will be verified during the appraisal.
The project will include new buildings, which will comply with the 2010/31/EU Directive on energy efficiency of buildings.
The Promoter has been assessed by the EIB as being a private company not subject to EU rules on public procurement or concessions. However, if after the project appraisal, the EIB were to conclude that the Promoter is after all subject to EU public procurement legislation Directive 2014/24/EU, then the Bank would require the Promoter to ensure that contracts for the implementation of the project will be tendered in accordance with the relevant applicable EU procurement legislation Directive 2014/24/EU where applicable, as well as Directive 89/665/EEC as interpreted by the Court of Justice of the EU, with publication of tender notices in the Official Journal of the EU, as and where required.
Signed - 8/06/2021