SPANISH SUBURBAN AND REGIONAL ROLLING STOCK

Promoter – Financial Intermediary

RENFE OPERADORA

Location

• Spain

Description

The project will finance the acquisition of 72 hybrid and electric trainsets to replace ageing rolling stock in the suburban networks of Valencia and Murcia, as well as regional rail services across Spain.

Objectives

The project is expected to generate operating and maintenance costs savings, improve the quality, accessibility and comfort of the services, as well as reduce the number of incidences. As one of the pillars of the plan for improvement of suburban services, fleet renewal is expected to foster modal shift from road to rail (or at least maintain rail modal share) and therefore to contribute to the reduction of accidents, pollution and noise levels especially within urban agglomerations, as well as CO2 emissions. The project will thus contribute to meeting the EIB's target for support to climate action. The project is eligible under Article 309 point (c) common interest. The project's compliance with the Lending Policy for Transport (Decision CA/452/11) is to be confirmed during appraisal.

Sector(s)

• Transport - Transportation and storage

Proposed EIB finance (Approximate amount)

EUR 570 million

Total cost (Approximate amount)

EUR 642 million

Environmental aspects

The investment proposed under the project does not fall under either Annex I or Annex II of the Environmental Impact Assessment (EIA) Directive 2011/92/EU (as amended by Directive 2014/52/EU) as manufacturing and use of rail rolling stock is not included in either list. The need of EIA and/or assessment according to the Habitats Directive 92/43/EEC for associated facilities (e.g. maintenance workshops or depots), not included in the investment proposed but needed for the correct operation of the new rolling stock, will be analysed during the appraisal. Arrangements for the replacement or decommissioning of old rolling stock will be reviewed during appraisal. All else equal, the project is expected to have a positive environmental impact by contributing to modal shift from road to railways.

Procurement

The EIB will 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, 2014/25/EU 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 - 29/05/2020