Release date: 20 September 2023
Promoter – Financial Intermediary
BPCE LEASE SALocation
Description
The operation aims at financing small to medium sized investments carried out by small and medium sized enterprises (SMEs) and Midcaps in France and across Europe.
Additionality and Impact
The proposed operation aims to finance energy efficiency (EE), and clean transport and mobility projects in France, Italy and Spain, therefore supporting the EU's Bank's priority in the energy and mobility sectors and the EIB's climate action and environmental sustainability objectives. The project will contribute to reducing energy demand in the targeted countries, which is key to meet the mid/long term national objectives, as outlined in the National Energy and Climate Plans (NECPs).
Investments in EE projects address multiple market failures, such as environmental externalities and imperfect information. EE projects in buildings suffer from a chronic lack of investment. This operation addresses the market failures that limit the access to finance for building renovation projects, an important sector for reducing energy consumption. The operation will also address the market gaps associated with the still imperfect competition and incomplete markets for very innovative and still market-entry stage vehicle electrification, automation and connectivity. The EIB support to this operation is expected to accelerate the implementation of the underlying EE and Green mobility schemes, by lowering the associated cost of funding and offering a maturity beyond the tenor usually offered by commercial banks.
EIB's intervention will take the form of a funding line to BPCE Lease, a financial intermediary ("FI") which will on-lend the EIB funds at attractive financing conditions to eligible projects, thereby facilitating their implementation.
Objectives
The aim is to enhance access to finance for the target beneficiaries, with 100% Climate Change contribution.
Sector(s)
- Credit lines - Credit lines
Proposed EIB finance (Approximate amount)
EUR 300 million
Total cost (Approximate amount)
not applicable
Environmental aspects
Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.
Procurement
Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.
Status
Signed - 14/12/2023
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).