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    Reference: 20200452
    Release date: 25 October 2021

    Promoter – Financial Intermediary

    GALP ENERGIA SGPS SA

    Location

    Description

    The project consists of the development of a portfolio of solar photovoltaic (PV) farms with a total installed capacity of around 2GW, located across Spain.

    Objectives

    The project consists of the financing of renewable solar PV projects in Spain. The Promoter has submitted a preliminary pipeline of 20 utility scale renewable energy schemes, for a total capacity of ca. 2 GW. Schemes are located in various regions of Spain.

    Sector(s)

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

    Proposed EIB finance (Approximate amount)

    EUR 650 million

    Total cost (Approximate amount)

    EUR 1302 million

    Environmental aspects

    This operation is intended to generate environmental benefits by supporting renewable energy projects that help mitigate climate change. The schemes are expected to fall under Annex II of the EIA-Directive (2014/52/EU amending 2011/92/EU), requiring the competent authorities to determine whether an environmental impact assessment (EIA) is required. Aerial power lines for the interconnection to the grid included in the Annex I of the EIA Directive, if any, will be expected to be subject in all cases to an EIA process. It is expected that a few plants of the initial pipeline have already obtained their environmental license (Declaracion de Impacto Ambiental), and the rest of the processes are still ongoing or under preparation. The Bank will assess the capacity and procedures of the Promoter to ensure the schemes' compliance with the sector-relevant national and European environmental and biodiversity regulations. The EIA studies and the permitting process will be assessed during the appraisal of the individual schemes, in particular cumulative impacts and conformity with relevant EU Directives, including Habitats (92/43/EEC) and Birds (2009/147/EC).

    Procurement

    The Promoter has been assessed by the EIB as being a private company not subject to EU rules on public procurement or concessions. However, if at the project appraisal, the EIB were to conclude that the Promoter is subject to EU public procurement legislation then the Bank would duly inform the Commission Services and would require the Promoter to apply those rules.

    Status

    Signed - 21/10/2021

    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