Release date: 9 February 2023
Promoter – Financial Intermediary
GENERAL DE ALQUILER DE MAQUINARIA SALocation
Description
The project concerns the promoter's 3-year investment plan comprising the electrification of the existing rental fleet and of the last-mile distribution, the digital school for technical training and the digitalisation of production and business processes.
Additionality and Impact
The project supports an innovative Mid-Cap in investments in new state-of-the-art electric equipment to substitute higher carbon footprint rental equipment, as well as in the development of a sustainable transport business model (last-mile delivery). It will strengthen the competitiveness of a European machinery and equipment rental company and will support the accumulation and diffusion of knowledge (through the collaboration with suppliers and customers) and workforce upskilling and training. The fleet electrification will avoid greenhouse gas, pollutants and noise emissions and maximize the availability for rental, thus strengthening the circular economy model. The investment plan supports the objectives of the European Green Deal (COM(2019) 640) through the mobilisation of industry for a clean and circular economy. Specifically, the Circular Economy Action Plan (COM(2020) 98) foresees the development of business models based on sharing and product-as-service to optimise product use. The EIB will provide the company with access to long-term financing combined with customised and flexible financial terms and conditions, which better mirror the economic life of its investments. In addition, the EIB loan provides a signalling effect on the soundness and quality of the project and the promoter, which expects to facilitate the crowding-in of other commercial and public lenders. Furthermore, this project supports the strengthening of the EU's economic, social and territorial cohesion.
Objectives
The related investments support General de Alquiler de Maquinaria's (GAM) corporate strategy to provide zero-emission solutions to the last-mile delivery sector, as well as the ongoing renewal of the existing rental fleet with zero emissions equipment.
Sector(s)
- Services - Administrative and support service activities
Proposed EIB finance (Approximate amount)
EUR 35 million
Total cost (Approximate amount)
EUR 86 million
Environmental aspects
The project concerns investments related to the electrification of the promoter's rental fleet, digital transformation and circular economy activities that are not specifically listed in Annex I or II of the EU Directive 2014/52/EU amending the Environmental Impact Assessment (EIA) Directive 2011/92/EU. The project will be carried out in existing facilities, already authorised, that will not change their scope due to the project. As such, the project activities are not subject to an EIA. The EIB will review the environmental aspects of the project during the due diligence process.
Procurement
GAM been assessed by the EIB as being a private company not subject to EU rules on public procurement or concessions. However, if at the project appraisal, the EIB were to conclude that the promoter is subject to EU public procurement legislation, then the EIB would duly inform the European Commission and would require GAM to apply those rules.
Status
Signed - 30/11/2022
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).