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    Reference: 20230366
    Release date: 5 September 2023

    Promoter – Financial Intermediary

    ACCEPTABLE CORPORATE(S)

    Location

    Description

    The lending envelope will support mid-sized greenfield wind and solar plants projects to be carried out by private companies in South-West Europe, mainly Spain, Italy, Portugal, Ireland and France.

    Objectives

    The aim is to enhance access to loan finance to the projects' promoters to support their investments in the field of renewables.

    Sector(s)

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

    Proposed EIB finance (Approximate amount)

    EUR 1000 million

    Total cost (Approximate amount)

    EUR 2400 million

    Environmental aspects

    The EIB will require that sub-projects financed under this lending envelope comply with the domestic and EU applicable legislation, as appropriate. Solar photovoltaic and onshore wind plants are expected to fall under Annex II of the Environmental Impact Assessment (EIA) Directive 2011/92/EU, as amended by Directive 2014/52/EU, leaving it to the competent authority to determine based on the criteria listed in Annex III whether an environmental impact assessment report is required. Some associated transmission lines could fall under Annex I. The EIB will assess compliance with applicable EU Directives during the appraisal of each sub-operation, in particular concerning cumulative impacts and potential impacts on nature conservation sites.

    Procurement

    The EIB will require that sub-projects financed under this lending envelope comply with the domestic and EU applicable legislation, as appropriate. The promoters are expected to be private companies and the schemes envisaged for this operation are market-based renewable energy projects, which do not enjoy any special or exclusive rights. Therefore, private sector procurement procedures should apply. This will be further reviewed during the appraisal of each sub-operation.

    Status

    Approved - 18/10/2023

    Milestone
    Under appraisal
    Approved
    18 October 2023

    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).

    Related tags

    Spain Italy Portugal France Ireland Energy