Release date: 30 June 2021
Promoter – Financial Intermediary
THE GREEN TIE SL
Quasi-equity investment into a pipeline of greenfield solar projects in Spain.
The proposed loan will finance a holding company, expected to be incorporated in Spain, with an exclusivity right to develop a portfolio of solar photovoltaic (PV) projects in Spain with an expected overall capacity of 1 GW.
- Energy - Electricity, gas, steam and air conditioning supply
Proposed EIB finance (Approximate amount)
EUR 60 million
Total cost (Approximate amount)
EUR 500 million
Details of the Promoter's environmental and social due diligence procedures for ensuring compliance with relevant EU and national legislation and EIB's Environmental and Social Standards, as well as the capacity of the Promoter to assess and monitor environmental and social risks and impacts, will be reviewed during appraisal. The assessment of the environmental and social impacts and risks will be part of the standard due diligence process that the Promoter will have to carry out for each underlying investment, thereby ensuring that the portfolio and these investments are in compliance with national law and EU environmental legislation as well as the EIB's Environmental and Social Standards.
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 after the project appraisal, the EIB were to conclude that the Promoter is after all subject to EU public procurement legislation (Directive 2014/23/EU / 2014/24/EU 2014/25/E), where applicable, then the Bank would require the Promoter to ensure that contracts for the implementation of the project will be tendered in accordance with the relevant applicable EU procurement legislation (Directive 2014/23/EU /2014/24/EU / 2014/25/EU) where applicable, as well as Directive 92/13/EEC or Directive 89/665/EEC as interpreted by the Court of Justice of the EU, with the publication of tender notices in the Official Journal of the EU, as and where required.
Under appraisal - 7/06/2021
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).