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    Reference: 20210147
    Release date: 30 July 2021

    Promoter – Financial Intermediary

    RENOVABLES DE BUNIEL SL

    Location

    Description

    Financing of the Buniel Wind farm (114.5 MW), located in the Spanish province of Burgos (Castilla y León).

    Objectives

    The proposed operation aims at financing a 114.5 MW wind farm, comprising 25 windmills, in the Spanish region of Burgos. The project is one of the largest in the region, and can power around 350,000 homes, which is a significant number particularly for this sparsely populated region.

    Sector(s)

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

    Proposed EIB finance (Approximate amount)

    EUR 50 million

    Total cost (Approximate amount)

    EUR 100 million

    Environmental aspects

    As requested by the client, Ops proposes to label this operation as an "EIB Green Loan," as it is fully eligible under the Climate Action and Environmental Sustainability. The "EIB Green Loan" is a labelling formally created by Ops and PJ for investments that are fully in-line with the Bank's Climate Awareness Bonds (CAB) eligibility, as updated from time to time. The label only applies to the portion of the projects that are 100% CAB eligible. This product was created in 2018 in response to increasing demand for corporates, who would like to highlight their decarbonisation investments and strategies. The Bank, as a pioneer and leading player in the green bond market, was well positioned to leverage its technical due diligence to provide this labelling also for its lending product, enhancing the effect of its seal of approval.

    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 the EU public procurement legislation then the Bank would require the Promoter to apply relevant applicable EU procurement rules.

    Status

    Under appraisal - 29/06/2021

    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