Release date: 23 April 2010
Promoter – Financial Intermediary
Caja de Ahorros y Monte de Piedad de Navarra
Location
Description
EIB loan for financing renewable energy and energy efficiency projects.
Objectives
The loan will be dedicated to investments by corporates and public entities in energy efficiency and renewable energies. The renewable energy projects will include mostly wind farms and photovoltaic plants. The energy efficiency projects will comprise housing rehabilitation, municipal buildings refurbishment or energy management.
Sector(s)
Proposed EIB finance (Approximate amount)
Up to EUR 50 million.
Total cost (Approximate amount)
EUR 100 million.
Environmental aspects
This operation intends to bring environmental benefits by supporting projects that help to mitigate climate change and reduce energy consumption. The individual schemes are likely to be small and are expected to have limited environmental impacts. The financial intermediary shall ensure compliance with national and European environmental and biodiversity regulations.
Procurement
The Bank will review systems and procedures applied by the promoter during appraisal, including compliance with relevant national and EU legislation, as defined by Procurement Directive 2004/17/EC, and publication in the Official Journal of the EU where appropriate. However, it is expected that most of the projects will be developed by private companies that are not subject to EU Procurement Directives.
Status
Signed - 1/07/2010
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).