Date de publication: 2 décembre 2024
Promoteur – Intermédiaire Financier
BANCO SANTANDER SALieu
Description
The operation will target 100% green mortgages by private individuals in Spain.
Additionality and Impact
By transferring the credit risk of the existing securitised consumer loans and leases portfolio, the proposed operation will reduce the risk-weighted assets and thus enable the Financial Intermediary, Santander Bank, to release regulatory capital. The capital relief provided will increase the Financial Intermediary's credit capacity and allow for the origination of new loans to Final Beneficiaries (private individuals) dedicated to support lending to highly energy efficient building construction. Such capital relief is not readily available from commercial financiers and therefore unlocks additional lending.
Energy efficiency investments in buildings suffer from a number of market failures (negative CO2 externalities, asymmetric information, and split incentives). As a result of these market failures, investments in energy efficiency are at sub-optimal levels from a socio-economic perspective. The proposed operation is expected to contribute to the provision of high quality and energy efficient housing, and contributes to supporting the Spanish government's climate change mitigation ambitions by addressing the suboptimal levels of investments in highly energy efficient building construction and EE-eligible renovation.
The operation is expected to generate good economic and social benefits. The Financial Intermediary is deemed capable of implementing the project considering its overall experience on the Spanish market and previous EIB operations.
Some of the projects are expected to be located in less developed and transition cohesion regions.
Objectifs
The aim is to enhance access to green mortgages for the final beneficiaries, in particular private individuals and homeowners' associations.
Secteur(s)
- Industrie - Construction
Montant BEI envisagé (montant approximatif)
EUR 120 million
Coût total (montant approximatif)
EUR 266 million
Aspects environnementaux
Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.
Passation des marchés
End beneficiaries will be individuals.
Statut
Signé - 27/11/2024
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).