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    Référence: 20210147
    Date de publication: 30 juillet 2021

    Promoteur – Intermédiaire Financier




    Financing of the Buniel Wind farm (100 MW), located in the Spanish province of Burgos (Castile-León).

    Additionality and Impact

    The project increases renewable energy generation capacity in Spain and contributes to national and EU 2030 climate objectives. The financing of this project also contributes to Bank's lending priority objectives on Energy (Renewable Energy) as well as on climate action (transversal), and partially on economic and social cohesion (transversal).The project produces electricity from low carbon sources (onshore wind), addressing the market failure of negative climate and environmental externalities, through the reduction of carbon emissions and air pollution (compared to fossil-fuel generation). As the schemes are expected to rely on revenues from the market (the wholesale market and/or unsubsidized commercial Power Purchase Agreements), in a sector characterised by incomplete markets (limited forward/hedging, lack of scarcity and locational pricing), the project improves market efficiency and competition. The project is located in EIB Cohesion Priority regions.

    The project Quality and Results is rated Very Good. The project has an excellent economic return and the current electricity market prices are not fully reflecting the value of electricity. Besides, the promoter has a recognised in-house design and project management capacity with a significant track record of international energy projects.

    The Bank's financial contribution is considered very good and valuable to the client, as the EIB's offering is more favourable than market alternatives under various dimensions (e.g. longer tenor, availability and grace periods, convertible or revisable rates). The promoter deems financing with an "EIB Green Loan" label as a stamp of quality on its investments and environment-related procedures and consistent with its green finance framework.


    The aim is to contribute to the European Renewable Energy (RE) target for 2030 of 32% in final energy consumption that has been established in the Renewable Energy Directive recast or RED II (2018/200/EU). The European Commission has recently proposed as part of its REPowerEU plan to increase such target to a level of 45%. It will further support the Spanish RE target for 2030 of 42% (final energy consumption) as set out in its Integrated National Energy and Climate Plan (NECP). In addition, the project is located in cohesion regions. The financing of this project is in line with the Bank's priority energy lending related to renewable energy and climate action.


    • Énergie - Production et distribution d'électricité, de gaz, de vapeur et d'air conditionné

    Montant BEI envisagé (montant approximatif)

    EUR 55 million

    Coût total (montant approximatif)

    EUR 101 million

    Aspects environnementaux

    This operation will benefit the environment by supporting RE projects that help mitigate climate change. The project, which has already obtained the required environmental permits, falls under Annex II of the Environmental Impact Assessment (EIA) Directive (2014/52/EU amending 2011/92/EU), where it is up to the competent authorities to determine that an EIA is required.

    Passation des marchés

    The Promoter has been assessed by the EIB as being a private company not subject to EU rules on public procurement or concessions.


    Signé - 23/02/2023

    Clause de non-responsabilité

    Avant d’être approuvés par le Conseil d’administration et avant la signature des prêts correspondants, les projets font l’objet d’une instruction et de négociations. Par conséquent, les informations et données fournies sur cette page sont indicatives.
    Elles sont fournies à des fins de transparence uniquement et ne peuvent être considérées comme représentant la politique officielle de la BEI (voir également les notes explicatives).

    Mots-clés correspondants

    Espagne Énergie