ENERGY AND ENVIRONMENTAL SUSTAINABILITY II

Promoteur – Intermédiaire Financier

MCRETAIL SGPS SA

Lieu

• Portugal

Description

The project concerns the investment programme of Sonae MC in the following areas: i) replacement of existing refrigeration systems by more efficient ones; ii) installation of photovoltaic panels with energy storage systems in supermarkets; iii) electric vehicles charging points; and, iv) waste management and recycling.

Additionality and Impact

The investments are in line with the InvestEU Regulation's Eligible Areas of supporting the development of the energy sector in accordance with the Energy Union priorities, as well as environment and resources notably through investing into waste management infrastructure and circular economy.

This operation aligns with the EU's and the Bank's energy and waste management sector priorities, as well as the Banks's climate action goals, supporting investments in energy efficiency, such as refrigeration system replacement, renewable energy integration in buildings and transition to circular economy in retail stores in Portugal.

The energy efficiency and renewable energy investments align with the "Energy Efficiency Directive", in the application of the "energy efficiency first principle", and with EU "Energy Performance of Buildings Directive). The operation aligns also to the core principles of "REPowerEU" in relation to EU's clean energy transition and to increase Europe's energy independence. These investments will help Portugal achieve its targets of carbon neutrality by 2050, accelerating the implementation of the 2030 National Energy and Climate Plans (NECP 2021-2030) and the Roadmap for Carbon Neutrality 2050 (RNC 2050). Investments in waste management align with EU Circular Economy Action Plan (CEAP) and the Green Deal as well as Portugal's Circular Economy Action Plan.

The operation will contribute to the economic development of the EU regions as the majority (76.5%) of the investments will be in EIB "Cohesion Priority Regions" fostering growth and qualified employment in the sector. The Promoter is deemed capable of managing, implementing and operating the different investments in the operation considering its overall experience, the sustainability strategy integrated in its operation, the establishment of dedicated Project implementation structures to ensure effective execution, and the application of proven technologies with limited technological risks.

The operation is considered both financially and economically viable, with the indicators aligning with the expected profitability of the concerned sector. The Project will address non-internalized positive externalities, a market failure, from energy savings, carbon emission decrease and air pollution reduction.

The Bank's contribution to the Project is supported by a combination of a sizable loan and long tenor, required to successfully implement this type of investments. Furthermore, it contributes to diversify sources of financing from traditional commercial banking.

The Project would not have been carried out (to the same extent) by the EIB without the InvestEU support.

Objectifs

The project has three main goals: (i) reinforce the organisation's operational sustainability, (ii) promote efficient energy consumption, and (iii) promote waste reduction and recovery.

Secteur(s)

• Services - Commerce; réparation d'automobiles et de motocycles

Montant BEI envisagé (montant approximatif)

EUR 100 million

Coût total (montant approximatif)

EUR 142 million

Aspects environnementaux

The operation is expected to contribute in full to climate action and environmental sustainability (CA&ES) objectives, in particular to climate mitigation through energy efficiency, renewable energy generation, electric mobility and circular economy. The EIB will require that projects financed under this operation comply with applicable domestic and EU legislation, as appropriate.

Passation des marchés

The promoter has been assessed by the EIB as being a private company not being subject to EU rules on public procurement or concessions. However, if at the Project appraisal, the EIB were to conclude that the promoter is after all subject to EU public procurement legislation (i.e. Directive 2004/17/EC), then the Bank would require the promoter to ensure that contracts for the implementation of the project have been/will be tendered in accordance with the relevant applicable EU procurement legislation (Directive 2004/17/EC and Directive 92/13/EEC), with publication of tender notices in the EU Official Journal, as and where required.

Statut

Signé - 28/11/2025