11 April 2022
Promoter – Financial Intermediary
ACCEPTABLE BANK(S),ACCEPTABLE CORPORATE(S),PUBLIC ENTITY(IES)
Programme loan to support small to medium-sized renewable energy (wind, solar photovoltaic and, to a small extent, biofuels) and energy efficiency projects throughout Italy, to be carried out by selected private and/or public promoters. Some of the projects will be located in cohesion regions.
The project concerns a Programme Loan ("PL") targeting energy efficiency projects (mainly in buildings and small/medium-sized enterprises) as well as small/medium renewable energy projects (mainly photovoltaic, wind and biogas) in Italy trough acceptable promoters (banks, utilities, energy service companies, etc.) who will play the role of aggregators of small energy projects and on lend to the final beneficiaries.
- Electricity, gas, steam and air conditioning supply
Proposed EIB finance (Approximate amount)
EUR 500 million
Total cost (Approximate amount)
EUR 1000 million
This operation intends to bring positive environmental benefits by promoting the application of renewable sources and energy efficiency projects that reduce greenhouse gas emissions, and reduce energy consumption, and thus help to mitigate climate change. The individual schemes to be financed within the sub-operations under this PL are small and are expected to have limited negative environmental impacts.
Some of the renewable energy investments could fall under Annex II of Directive 2014/52/EU amending the EIA Directive 2011/92/EU.
The assessment of the environmental and social impacts 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 sub-operations and the underlying investments are in compliance with national law, EU environmental legislation (notably, EIA Directive 2014/52/EU amending the 2011/92/EU, Habitats Directive 92/43/EEC, Birds Directive 2009/147/EC amending 79/409/EE, Industrial Emissions Directive 2010/75/EU), as well as the EIB Environmental and Social Standards.
Details of the Promoter's capacity to ensure compliance of investments with relevant EU and national regulation and EIB's Environmental and Social Standards will be reviewed during appraisal of the individual sub-operations.
The Bank will require the Promoter to ensure that contracts for implementation of the Project will be tendered in accordance with the 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 EU Official Journal, as and where required.
Approved - 18/05/2022