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Référence: 20230250
Date de publication: 31 mars 2023

Promoteur – Intermédiaire Financier

BANCO SANTANDER TOTTA SA

Lieu

Description

The project consists of a securitisation of a loan portfolio comprising residential mortgage backed securities of Banco Santander Totta (BST), a subsidiary of the Group. Through the EIB operation, BST will originate a new portfolio of energy efficiency loans, for high energy performing new buildings and the renovation of existing buildings undertaken by individuals and homeowners associations, and other eligible investments undertaken by small and medium sized enterprises (SMEs) and Midcaps across Portugal.

Additionality and Impact

The operation will target investments in Climate Action initiatives, more specifically energy efficiency investments in buildings by individuals (new construction and renovation) and potentially other energy efficiency investments by SMEs and MidCaps carried out in Portugal. Some of the projects are expected to be located in less developed and cohesion regions. Financial intermediaries such as Banco Santander SA ("Santander" or the "Group") play a central role in such transition, as financing is a key element to unlock the investments required to implement it. Tackling climate change is indeed a key objective of Santander as it has publicly unveiled its commitment to mobilise green finance lending for EUR 120bn between 2019 and 2025; to achieve this target, Santander is supporting its customers by developing tailor-made financial products and services to promote the green transition. In this context, the envisaged operation will allow Banco Santander Totta SA ("BST"), a subsidiary of the Group in Portugal, to increase its financing with high climate-action content to the real economy. On project quality, the projects are supported by adequate capabilities / governance of the promoter.

Objectifs

Building upon the experience gained through prior standard operations with entities of Banco Santander across the European Union (EU) under the PPG entailing access to finance for SMEs/Midcaps, the proposed operation seeks to facilitate investments with high climate action content in Portugal through BST.

Secteur(s)

Montant BEI envisagé (montant approximatif)

EUR 81 million

Coût total (montant approximatif)

EUR 227 million

Aspects environnementaux

Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.

Passation des marchés

Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.

Statut

Signé - 24/03/2023

Milestone
À l'examen
Approuvé
Signé
22 mars 2023
24 mars 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

Portugal Aménagement urbain Industrie