SAARLB - RE PROJECT FINANCE GUARANTEE

Promoter – Financial Intermediary

Landesbank Saar

Location

• Germany
• France

Description

Risk-sharing instrument to cover up to 50% of credit risk associated with a portfolio of renewable energy loans outstanding on SaarLB's balance sheet. As a condition and with the resources made available by the guarantee, SaarLB will grant new loans to eligible renewable energy projects. The new loans will not be covered by the guarantee.

Objectives

This operation will be set up as a risk-sharing instrument covering a portfolio of renewable energy assets. The instrument is designed to facilitate the intermediary to undertake new projects.

Sector(s)

• Energy

Proposed EIB finance (Approximate amount)

EUR 150 million

Total cost (Approximate amount)

EUR 300 million

Environmental aspects

The project comprises a multi-sector multi-scheme operation. All of the schemes are expected to fall under Annex II of Environmental Impact Assessment (EIA) Directive 2011/92/EU. Should any scheme have a negative impact on an area forming part of the Natura 2000 network (as defined under Habitats Directive 92/43/EEC and Birds Directive 79/409/EEC), then the Bank would require the financial intermediary and the final beneficiary to act according to the provisions of the aforementioned directives as transposed into national law.

Procurement

The Bank will require the promoter to ensure that contracts for the implementation of the project have been/shall be tendered in accordance with the relevant applicable EU procurement legislation (Directives 2004/18/EC and/or 2004/17/EC as well as Directives 89/665/EEC and 92/13/EEC) as interpreted by the Court of Justice of the EU, with publication of tender notices in the EU Official Journal, as and where required.

Status

Signed - 30/06/2016