| Project Detail |
The project will finance the roll-out of roof photovoltaic installations in the promoters logistic centres across various EU countries.
Additionality and Impact
The project supports the Banks renewable energy, energy efficiency and climate objectives. The schemes will produce electricity from low-carbon sources (rooftop solar PV) and thereby contribute to the EIBs priority of supporting transition to a low carbon, environmentally friendly and climate-resilient economy.
Low carbon power projects reduce carbon and air pollution externalities. Therefore, the project contributes to national 2030 decarbonisation goals, to the REPowerEU programme, and to the Banks lending priority objectives on Energy (Renewable Energy) and energy efficiency, as well as on climate action and environmental sustainability (transversal). The RE schemes will benefit from market-based instruments and will thereby contribute to the policy objective to support the market integration of renewable energy projects. The operation is therefore eligible under Article 309 (c) common interest in energy (renewable energy) and environment (tackling climate change).
Based on the pipeline provided, c. 12% of the project investment cost is expected to be located in cohesion priority regions and thus eligible under Article 309 (a).
The project is expected to generate social benefits by generating clean and renewable power at a cost well below the fossil fuel-based alternatives. Long tenor and flexible financing conditions (drawdown and repayment flexibility) provided by the Bank will help the Promoter to achieve the investment objectives. The EIB loan will also contribute to diversification of sources of funding and is expected to have signalling and crowding-in effect.
Objectives
The rooftop installations will produce electricity from low carbon sources (solar PV), contributing to the reduction of carbon emissions and air pollution compared to fossil-fuel generation. The project increases the renewable energy generation capacity across nine EU countries and thus supports the EIBs priority objectives for energy sector lending related to renewable energy sources, as well as national and EU 2030 climate objectives.
Sector(s)
Energy - Electricity, gas, steam and air conditioning supply
Proposed EIB finance (Approximate amount)
EUR 150 million
Total cost (Approximate amount)
EUR 200 million |
