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    Reference: 20200550
    Release date: 26 October 2020

    Promoter – Financial Intermediary

    AVANTCARD DAC

    Location

    Description

    Private Finance for Energy Efficiency (PF4EE) collateral agreement for energy efficiency projects promoted by Avantcard in Ireland, in conjunction with a framework loan operation 2020-0551.

    Objectives

    The operation, a guarantee to Avantcard DAC under the Private Finance for Energy Efficiency (PF4EE) programme, will support the energy rehabilitation of residential buildings by homeowners, including energy efficiency measures and small-scale renewable energy installations.

    Sector(s)

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

    Proposed EIB finance (Approximate amount)

    EUR 6 million

    Total cost (Approximate amount)

    EUR 75 million

    Environmental aspects

    The individual projects under this framework loan (FL) will be small-scale and are expected to bring positive environmental impacts, notably by reducing energy wastage and promoting the use of renewable energy sources for self-consumption by the final beneficiaries, thus lowering greenhouse gas emissions. In addition, the operation will help to extend the useful life of the buildings, which improves the condition of the residential stock overall and minimises construction waste in the long term. In line with EIB policy, the sub-loans will have to comply with EU requirements in the field of environment. The Promoter has to ensure that the sub-projects undertaken by final beneficiaries with the proceeds of the EIB funds should comply with the relevant applicable EU and national legislation.

    Procurement

    The Promoter has to ensure that the sub-projects undertaken by final beneficiaries with the proceeds of EIB funds comply with the relevant applicable EU and national legislation. The operation will be carried out exclusively in the private residential sector in Ireland, whereby homeowners are the final beneficiaries. Therefore, only small-scale private procurement will take place with no public procurement.

    Status

    Approved - 26/11/2020

    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

    Ireland Energy Industry