| Project Detail |
The project consists in a funded de-linked risk sharing operation with BBVA concerning an existing portfolio of project finance loans, including renewable energy, infrastructure and other sectors. Through the EIB resources, the intermediary will provide new loans to eligible beneficiaries investing in renewable energy and other sustainable projects, in Spain and across Europe.
Objectives
The aim is to provide new loans to support eligible renewable energy transactions in Spain and across Europe. The operation contributes to the EU-wide target of 32% of energy from renewable sources in gross final energy consumption (RES) by 2030, as set out in the EU RE Directive 2018/2001). Additionally, it further contributes towards the national renewable energy targets, including Spains Integrated National Energy and Climate Plan (NECP), which aims for 42% renewable energy in the final energy consumption (RES) by 2030. It is envisaged for a number of projects to be located in EIB Cohesion Priority Regions. The project is therefore eligible under Article 309 (a) projects for developing less-developed regions and (c) common interest. Financing this project will contribute to the EIBs lending priority policy on social cohesion, renewable energy and climate action.
Sector(s)
Energy - Electricity, gas, steam and air conditioning supply
Proposed EIB finance (Approximate amount)
EUR 150 million
Total cost (Approximate amount)
EUR 300 million |
