WALLENSTAM ENERGY EFFICIENT HOUSING

Promoter – Financial Intermediary

WALLENSTAM AB

Location

• Sweden

Description

The project will finance the development of several rental residential buildings in Sweden.

Objectives

Supporting the Swedish strategy for the development of nearly zero energy building (NZEB).

Sector(s)

• Services - Real estate activities

Proposed EIB finance (Approximate amount)

SEK 2500 million (EUR 246 million)

Total cost (Approximate amount)

SEK 5241 million (EUR 516 million)

Environmental aspects

Given the relative scale, location and nature of the project in built-up urban areas, all of the buildings are deemed not to have any significant negative environmental or social impact. Exceptionally, a building may fall under Annex II of the Environmental Impact Assessment (EIA) Directive 2011/92/EU (as amended by the Directive 2014/52/EU). In these cases the Bank will require the promoter to act according to the provisions of the aforementioned Directive as transposed into national law leaving it to the competent authority to decide in line with the Directive whether an EIA procedure is needed or not. The Bank will review relevant permits public consultations and authorization processes during appraisal, including mitigation/compensation measures to be taken. Through the project, a new NZEB building, as per the requirements of the Energy Performance of Buildings Directive (EPBD) 2010/31/EU , will be constructed and will, after completion, reduce energy consumption and pollutant emissions compared to the business-as-usual scenario (in compliance with the current regulation). The EPBD requires that from 2019 onwards, all public buildings and from 2021 all buildings will need to be NZEB.

Procurement

The promoter has been assessed by the EIB as being a private company not being 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 or 2004/18/EC where applicable), 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 or 2004/18/EC where applicable, as well as Directive 92/13/EEC as interpreted by the Court of Justice of the EU, with publication of tender notices in the EU Official Journal, as and where required.

Status

Signed - 16/12/2019