Summary sheet
The project will finance investments to modernise electricity distribution infrastructure throughout Spain during the 2022-2024 period.
The investment programme will include components aiming at the digitalisation and distribution network renewal to increase the security of supply and improve the quality of service.
The project consists of multiple investment measures for the upgrading of the electricity distribution networks managed by Endesa in selected Spanish regions. The EIB financing helps address sub-optimal investment typically associated with market failures related to security of supply issues and negative environmental externalities. The project will contribute to the EIB's Sustainable Energy public policy goal, as well as providing a very significant contribution to Climate Action (climate change mitigation) in line with the applicable EU Taxonomy requirements and to the EU Economic, Social and Territorial Cohesion by investing in EIB Cohesion Priority regions.
The investment programme will mainly serve to connect new users, improve the reliability of supply and enable further decarbonisation of the Spanish energy mix, also thanks to the improvements in the network flexibility and operational efficiency associated with grid digitalisation measures. The investment programme economic viability is deemed good, exceeding the regulated financial rate of return and generating a very good social benefit. The Promoter is an experienced network operator, with the capacity to manage the implementation and operation of the project assets.
The EIB financial contribution is valued by the client and considered excellent, as it offers more favourable and flexible conditions compared to market alternatives, in particular in terms of long availability period, flexible disbursements and substantially longer tenor. The sustainability linked pricing is of great value to the client as it provides a positive incentive, and strong market signal, linked to the execution of its ambitious decarbonisation strategy.
The EIB will require that projects financed under this operation comply with domestic and EU applicable legislation, as appropriate.
The EIB will require that projects financed under this operation comply with domestic and EU applicable legislation, where applicable.
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).
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