MALL OF TRIPLA NEAR-ZERO ENERGY BUILDING PROJECT

Promoter – Financial Intermediary

YIT Oyj

Location

• Finland

Description

The project relates to the construction of a commercial nearly-zero-energy building (NZEB) in the Helsinki Metropolitan Area. The building consists of different parts that will be constructed in two phases. The project scope is limited to the first phase which comprises the construction of a shopping mall, a car park and a railway station. In a second phase, and outside the project scope, residential and office space will be added to the same building

Objectives

The improvement of energy efficiency of new buildings will reduce energy consumption and lower CO2 emissions, contributing to the security of supply and mitigation objectives. Financing new NZEBs contributes to one of the objectives of the EU Energy Performance of Buildings Directive. NZEB is a new sector of financing for the Bank until it becomes the standard for building construction after 2020. The project is therefore eligible under Article 309 point (c) common interest (energy efficiency and renewable energy) and also contributes to environment protection (tackling climate change).

Sector(s)

• Services - Real estate activities

Proposed EIB finance (Approximate amount)

EUR 130 million

Total cost (Approximate amount)

EUR 603 million

Environmental aspects

Through the project a new NZEB building, as per the requirements of Directive (EPBD) 2010/31/EU (Article 9(1)), will be constructed, which after completion will reduce energy consumption and pollutant emissions compared to the business-as-usual scenario (in compliance with the current regulation).

Procurement

The promoter has been assessed by the EIB as being a private company not operating in the utilities sector and not having a status of a contracting entity, thus not subject to EU rules on public procurement. However, if after 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 Official Journal of the EU, as and where required.

Status

Signed - 22/06/2016