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    Reference: 20190723
    Release date: 29 October 2019

    Promoter – Financial Intermediary

    INTESA SANPAOLO SPA

    Location

    Description

    The operation is a linked unfunded partial delegation risk sharing instrument for an amount of up to EUR 140m to cover up to 50% of the credit risk associated with a new portfolio of energy efficiency, renewable energy and circular economy small and medium-sized projects originated by the Intesa Sanpaolo Group, located in Italy.

    Objectives

    Such loans provided by Intesa Sanpaolo will finance medium sized projects in the field of energy efficiency, renewable energy and environmental protection, in line with EU objectives. The operation also contributes to meeting Italy's renewable energy (RE) and energy efficiency (EE) objectives and will actively support the transition to a circular economy.

    Sector(s)

    • Solid waste - Water supply; sewerage, waste management and remediation activities
    • Industry - Construction
    • Energy - Electricity, gas, steam and air conditioning supply

    Proposed EIB finance (Approximate amount)

    EUR 140 million

    Total cost (Approximate amount)

    EUR 400 million

    Environmental aspects

    This operation is intended to generate environmental benefits by supporting projects that help mitigate climate change, contribute to reduce greenhouse gas emissions and support transition to circular economy. The EIB will assess the capacity and procedures of the financial intermediary (FI) to ensure compliance with national and European environmental and biodiversity regulations as well as their capacity to support the EIB's public disclosure policy, which aims to facilitate access by the public to environmentally-relevant information.

    Procurement

    The Bank will require the FI to ensure that contracts for the implementation of the projects shall be tendered in accordance with the relevant applicable EU procurement legislation (Directives 2014/23/EU, 2014/24/EU and 2014/25/EU, where applicable, as well as Directives 89/665/EEC and 92/13/EEC) as interpreted by the Court of Justice of the EU, with the publication of tender notices in the Official Journal of the European Union, as and where required.

    Status

    Signed - 18/12/2019

    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

    Italy Solid waste Industry Energy