6 July 2020
Promoter – Financial Intermediary
Subordinated financings (contractually, structurally or legally) of EU-based private entities targeting small and medium energy efficiency (industrial, commercial, public, waste heat recovery, lighting) and renewable energy (biomass, geothermal, thermal solar, cogeneration, wind, PV solar, energy storage) projects.
The development of renewable energy and energy efficiency investments supports national and European objectives related to improving energy efficiency and thus supporting climate change and security of supply objectives in the EU. The project is therefore eligible under Article 309 point (a) projects for developing less-developed regions and point (c) common interest.
Overall, this operation should lead to increased investment volumes from developer to renewable energy and energy efficiency schemes and, consequently, higher lending volumes from the Bank to this priority sector with clear impact on employment and growth.
- Electricity, gas, steam and air conditioning supply
Proposed EIB finance (Approximate amount)
EUR 500 million
Total cost (Approximate amount)
EUR 1000 million
This operation intends to bring environmental benefits by supporting projects that reduce energy consumption and help to mitigate climate change. The individual schemes to be financed within the sub-operations under this Programme Loan are small and are expected to have limited negative environmental impacts. Given the scale, location and nature of the sub-projects an environmental impact assessment (EIA), as defined under the EIA Directive 2011/92/EU, would normally be not required.
The Bank will assess the capacity and procedures of the financial intermediaries to ensure compliance with national and European environmental and biodiversity regulations of the individual sub-projects as well as its capacity to support the Bank's Public Disclosure Policy, which aims at facilitating access by the public to environmentally relevant information.
The Bank will assess, for each underlying Framework Loan, whether the Promoter is a private company not subject to EU rules on public procurement or concessions. If after this assessment, the EIB were to conclude that the promoter is subject to EU public procurement legislation, then the Bank would require the promoter to ensure that contracts for the implementation of the underlying schemes will be tendered in accordance with the relevant applicable EU procurement legislation 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.
Approved - 11/03/2021