| Project Detail |
This operation concerns an investment program comprising the construction of new energy efficient residential buildings and the energy efficiency renovation of residential buildings. Additionality and Impact The proposed operation aims to finance energy efficiency (EE) projects in Southern Germany. The operation concerns the construction of high energy efficient residential units and the EE renovation of existing residential units. All units will be for rent only. The operation supports the EUs and Banks priority in the energy efficiency sector and the EIBs climate action objectives. Through energy-resource savings, it will contribute to achieving social and public benefits that are not typically internalised in the investment rationale of private investors, including the reduction of energy expenses by the tenants and the reduction of carbon and air pollution emissions. Therefore, the project will be fully aligned with EUs priorities and goals established in the European Green Deal and particularly in the Renovation Wave. EE investment in residential buildings suffer from a chronical lack of investments. The operation is expected to yield good economic and social benefits. The Promoter is deemed fully capable of implementing the project considering its overall experience, including a previous EIB operation. The EIB additionality to this operation is expected to provide a tangible value added, contributing to accelerate the implementation of the underlying EE schemes, by providing an unsecured term loan, which will be complemented by national promotional funding instruments. Objectives Both components (new construction and refurbishment) are expected to provide units for rent in Southern Germany. Sector(s) Urban development - Construction Proposed EIB finance (Approximate amount) EUR 42 million Total cost (Approximate amount) EUR 105 million |
