Release date: 16 July 2021
Promoter – Financial Intermediary
Programme loan to support small to medium-sized energy efficiency, renewable energy, and other climate action projects primarily in Austria and regional EU countries. Sub-operations will be intermediated framework loans to eligible financial intermediaries. Some projects will be located in convergence regions.
The project is in line with both the EIB's priority of financing renewable energy and energy efficiency and the EU's objectives on climate change and security of energy supply.
- Energy - Electricity, gas, steam and air conditioning supply
Proposed EIB finance (Approximate amount)
EUR 300 million
Total cost (Approximate amount)
EUR 600 million
The assessment of the environmental and social impacts and risks will be part of the standard due diligence process that the Promoters will have to carry out for each underlying investment. The Promoters will have to ensure that the portfolio and the underlying investments are in compliance with national law, EU environmental legislation as well as with the EIB's Environmental and Social Standards. Details of the Promoters' capacity to ensure compliance of investments with relevant EU and national regulation and the EIB's Environmental and Social Standards will be reviewed during appraisal of the individual sub-operations. If an underlying investment is subject to an environmental impact assessment (EIA), the Promoters will be required to obtain the non-technical summary of it, and, where relevant, written confirmation from the competent authority that the investment will not have any significant negative impact on sites of nature conservation.
The Promoters have to ensure that contracts for the implementation of the underlying investments are tendered in accordance with the relevant applicable EU procurement legislation (Directives 2014/24/EU and/or 2014/25/EU and/or 2014/23/EU where applicable, as well as Directives 89/665/EEC and 92/13/EEC) as interpreted by the Court of Justice of the EU, with publication of tender notices in the Official Journal of the EU, as and where required.
Approved - 15/09/2021