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    Reference: 20200208
    Release date: 27 October 2020

    Promoter – Financial Intermediary

    BANKIA SA

    Location

    Description

    Private Finance for Energy Efficiency (PF4EE) Framework Loan (FL) for the financing of the energy renovation of existing buildings undertaken by homeowner associations in Spain.

    Objectives

    The intermediated loan to Bankia will finance energy efficiency projects primarily promoted by homeowner associations located in Spain.

    Sector(s)

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

    Proposed EIB finance (Approximate amount)

    EUR 22 million

    Total cost (Approximate amount)

    EUR 40 million

    Environmental aspects

    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 are small and are expected to have very 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, is normally not required. The Bank has assessed the capacity and procedures of the Financial Intermediary to ensure compliance with national and European environmental and biodiversity regulations of the individual schemes 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.

    Procurement

    Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.

    Status

    Approved - 3/12/2020

    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

    Spain Energy Industry