Release date: 15 July 2024
Promoter – Financial Intermediary
CAIXABANK SALocation
Description
The operation consists in an unfunded partial delegation linked risk sharing (LRS) transaction with the financial intermediary. The related sub-projects to be financed will be limited to manufacturing companies (Original Equipment Manufacturers or OEMs) producing or assembling in the EU, among others, turbines, grid connection's infrastructure, cables, transformer stations, sub-stations to be used in EU wind energy projects. In detail, it supports Caixbank in providing advance payment and performance bonds in relation to the obligations of OEMs and and possibly sub-contractors.
Objectives
The aim is to support the EU's wind energy sector and mobilise about € 8bn of investments into wind power related equipment. The Lending Envelope is a dedicated Guarantee Programme to allow banks to provide additional guarantees related to supply contracts of wind energy equipment manufacturers in the EU.
Sector(s)
- Credit lines - Credit lines
Proposed EIB finance (Approximate amount)
EUR 100 million
Total cost (Approximate amount)
EUR 1600 million
Environmental aspects
The proposed operation falls within the scope of the EIB's Environmental and Social Standards - "Standard 11 Intermediated Finance". The Borrower / Financial Intermediary has adequate capacity, systems and processes in place for identifying, assessing, managing and monitoring environmental, climate and social (ECS) risks related to the potential sub-projects benefitting from EIB support. The Final beneficiaries will be required to comply with applicable national and EU legislation in respect of environmental and social matters, as appropriate.
Procurement
Sub-projects need to comply with the EU legislation and the final beneficiaries under the new Caixabank portfolio will need to take all the requisite measures to ensure that the procurement procedures carried out will comply with the relevant EU procurement legislation and the applicable national legislation, provided that it is in conformity with EU rules.
Status
Approved - 15/11/2024
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).