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    Reference: 20190212
    Release date: 30 September 2019

    Promoter – Financial Intermediary




    The project concerns the construction and operation of 8 solar photovoltaic plants with a total capacity of 250 MWp located in the Spanish regions of Extremadura, Aragon and Castilla y Leon. The plants were awarded with a specific regulation as a result of a competitive auction for renewable energy projects held in Spain in July 2017.


    The EIB intermediated financing for this operation is expected to have an important demonstration effect. Indeed, it will be one of the first greenfield solar energy projects to be financed in Spain after the moratorium in 2012 and the new regulatory framework - which came into effect in 2014. Besides, the present operation will contribute to the achievement of Spain 2020 targets for renewable energy and to the reduction of the CO2 emissions.


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

    Proposed EIB finance (Approximate amount)

    EUR 50 million

    Total cost (Approximate amount)

    EUR 182 million

    Environmental aspects

    The project falls under the Annex II of the Environmental Impact Assessment (EIA) Directive (Directive 2014/52/EU amending the EIA Directive 2011/92/EU), and have been screened in by the competent authority, who confirmed that applicable EIA processes have been performed. The authorization procedure has been completed for the solar photovoltaic plant and the relevant interconnection facilities.


    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 2014/23/EU / 2014/24/EU or 2004/18/EC / 2014/25/EU or 2004/17/EC, where applicable, then the Bank would require the promoter to ensure that contracts for the implementation of the project are tendered in accordance with the relevant applicable EU procurement legislation: Directive 2014/23/EU / 2014/24/EU or 2004/18/EC / 2014/25/EU or 2004/17/EC, where applicable, as well as Directive 92/13/EEC or Directive 89/665/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.


    Signed - 5/12/2019


    Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
    They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

    Related tags

    Spain Energy