WALLONIE ENTREPRENDRE RENEWABLE ENERGY FL

The framework loan (FL) with the intermediary, Wallonie Entreprendre, will support mainly private companies developing small and medium-sized renewable energy projects in the Walloon region of Belgium. The FL will be fully dedicated to Climate Action and Environmental Sustainability.

The aim is to provide loans to sub-projects in the renewable energy, energy storage, and related infrastructure sectors, while also addressing the market constraints faced by small and medium-sized enterprises (SMEs) as well as mid-caps in obtaining financing. EIB funds offer attractive and flexible terms, which will ease access to finance and thereby facilitate the implementation of eligible sub-projects. The project will generate environmental benefits and contribute to the EU's Climate Action and Environmental Sustainability objectives.

EIB will provide funds to WALLONIE ENTREPRENDRE (WE), the promotional financing arm of the Belgium region of Wallonia, to support renewable energy (RE) projects, energy storage, and related infrastructure in Wallonia Through its lending, EIB addresses the local financing gap in areas where commercial banks are absent or restrictive. EIB funds have attractive and flexible terms (long tenors, low rates and no commitment fees for 36 months, i.e. the expected disbursement period) which will facilitate the implementation of eligible projects. EIB financing is also expected to have a positive reputation impact and a signalling effect. The project is expected to generate clean electricity, support economic recovery, and foster green sector employment. The financing aligns with EIB's priorities on energy, climate action, and EU competitiveness. It contributes to the EU 2030 decarbonisation goals and addresses market failures by reducing carbon emissions and improving public health. The operation is rated highly for economic return and social benefits, and is eligible under Article 309 for renewable energy and climate change initiatives. EIB also provided technical advice and introduced Green (Climate Action Environmental Sustainability) eligibility criteria.

This project will generate environmental benefits by supporting sub-projects that help mitigate climate change. Due to their technical characteristics, the individual sub-projects to be proposed under the project fall under Annex II of Directive 2011/92/EU amended by the Environmental Impact Assessment (EIA) Directive 2014/52/EU, leaving it to the national competent authority to determine whether an EIA is required, according to Annex III of the aforementioned Directive. The Financial Intermediary will need to have in place the necessary procedures to ensure that final beneficiaries implement the sub-projects receiving EIB financing in compliance with the national legislation and the relevant ElB's Environmental and Social Standards as well as international treaties and conventions signed and ratified by or otherwise applicable and binding in the country. The project will be appraised and monitored in line with the EIB's policies, including the Environmental and Social Sustainability Framework. The project is expected to contribute to CA&ES objectives, in particular to climate change mitigation and pollution prevention and control.

The EIB will require the Financial Intermediary to take all requisite measures to ensure that any procurement procedures carried out by the final beneficiaries of the sub-projects that the EIB finances under this project are implemented in accordance with applicable EU procurement legislation, Directive 2014/23/EU, 2014/24/EU and 2014/25/EU, where applicable, as well as Directive 92/13/EEC and Directive 89/665/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.