The promotion of sustainable, competitive and secure sources of energy is a key EU policy objective and an important sector for EIB financing. The EIB applies strict energy lending criteria established on the basis of a comprehensive review to ensure that our lending in the energy sector reflects EU energy and climate policy, as well as current investment trends. As a result of the review, our energy lending focuses on energy efficiency, renewable energy, energy networks, as well as related research and innovation. In the transition to a low-carbon global economy, we also introduced an Emissions Performance Standard which is applied to all fossil fuel generation projects to screen out investments whose carbon emissions exceed a threshold level which reflects existing EU and national commitments to limit carbon emissions.
In 2018, our loans helped to construct some 26 000 km of power lines and generate 15 228 MW of electricity, out of which more than 86% from renewables.
We finance projects that support:
- sustainability through renewable energy sources to reduce greenhouse gas emissions and dependence on finite energy resources
- competitiveness in energy supply to create a genuine European single energy market to boost efficiency and control consumer prices
- energy efficiency technology to support energy-related research, development and innovation
- supply security through diversification, particularly with indigenous sources to cut the risks from dependence on external supplies
The global renewable energy industry has grown quickly over the past few years. Wind and solar power are some of the bright spots for the near future. Despite progress, renewables still have a long way to go.
Europe’s biggest solar energy project, the first to be truly competitive with fossil fuel, also helps light Africa
Europe’s biggest solar energy project, the first to be truly competitive with fossil fuel, also helps light Africa.
In the offshore wind business, size does matter
In the offshore wind business, size does matter.
Electricity is a pre-requisite for economic development, just like clean water. One African company, d.light, provides clean energy for remote villages.
Investment – We and our partners have raised billions of euros for climate investment through funds of funds such as the Global Energy Efficiency and Renewable Energy Fund, European Energy Efficiency Fund and vehicles such as the Marguerite Fund, the Crescent Clean Energy Fund, the Facility for Energy Sustainability and Security of Supply and the Climate Awareness Bond.
Partnership – We work with others to provide funding, such as through the Mediterranean Solar Plan.
RDI support – We share risk in the research, development & innovation (RDI) process through our InnovFin programme.