Release date: 1 December 2021
Promoter – Financial Intermediary
ELECTROLUX ABLocation
Description
The project comprises a selection of the Promoter's planned expenditures in research, development and innovation (RDI) for the development of energy-efficient white goods and small home electric appliances. The project will be carried out in the Promoter's research and development (R&D) centres in Italy, Germany and Sweden and to a lesser extent in other smaller R&D facilities in the EU in the period 2021-2023.
Additionality and Impact
The financing of this project supports RDI activities that generate significant positive knowledge, technology and environmental externalities, through the creation of innovative processes, products or services and through skills development and upgrading.
The Bank's contribution to the project is supported by a combination of its additionality profile, flexible drawdown terms, thereby facilitating the projects financing and full implementation.
Objectives
The financing supports the Promoter's leading research in improved performance, user-friendliness, lower energy consumption and lower use of resources for a range of such household goods.
Sector(s)
- Industry - Manufacturing
Proposed EIB finance (Approximate amount)
EUR 250 million
Total cost (Approximate amount)
EUR 585 million
Environmental aspects
RDI activities on home electric appliances are not listed in the annexes of the EIA directive 2011/92/EU amended by directive 2014/52 EU; therefore, the project is not subject to the EIA directive. The Bank's services will review the environmental aspects of the project during the due diligence process.
Procurement
The Promoter has been assessed by EIB as being a private company not operating in the utilities sector and not having a status of a contracting entity, and is thus not subject to EU rules on public procurement. However, if at the project appraisal, the EIB were to conclude that the Promoter is subject to the EU public procurement legislation then the Bank would duly inform the Commission Services and would require the Promoter to apply those rules.
Status
Signed - 19/11/2021
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).