MASPEX ENERGY AND RESOURCE EFFICIENCY

The project will finance investments in supporting Maspex group in adopting energy efficiency measures, building and operating a waste water treatment plant, as well as increasing the renewable energy generation.

By increasing renewable energy generation capacity, energy efficiency measures and upgrading the promoter's used water treatment, the project will help saving energy, generate renewable energy, and improve water quality, and thus reduce the production facilities environmental footprint.

The project aims to enhance the promoter's long-term capability by boosting renewable energy production and energy efficiency in its manufacturing facilities. It addresses market failures by significantly reducing emissions, thereby tackling environmental issues, and by funding water infrastructure improvements that yield public health savings, enhance water quality, and foster socio-economic growth in the impacted regions. Furthermore, the initiative bolsters the EU's economic, social, and territorial cohesion by aligning investments with regional development strategies in cohesion areas. It contributes to the EU Green Deal's goals, driving the industry towards a green economy. The project adheres to a low-carbon, resilient approach, consistent with the Bank's focus on water management and European environmental protection policies, specifically the Urban Waste Water Treatment Directive.

The financial value added provided by the EIB loan is highly appreciated by the Promoter. The long tenor of the EIB loan (up to 8 years) is well in line with the economic life of the underlying investments and it is perfectly suited to finance investments with long payback period such as the energy and resource efficiency measures as well as renewable energy sources. The funding of similar maturities is not easily available on the Polish loan market. Also, customised terms such as flexible drawdown over the long availability period are of value to the Promoter because of the multiannual Project's implementation period. The EIB involvement will have a signalling effect to the commercial banks and potentially a bond market (which the Group aims to tap), that the EIB is standing by to support the Promoter's sustainable development strategy.

Some of the project's components may fall under the Annex II of the Environmental Impact Assessment (EIA) Directive 2011/92/EU (amended by Directive 2014/52/EU) and might be subject to a full EIA process if determined by the competent authorities. During the appraisal, the EIA process will be analysed. Food safety aspects will also be assessed. The investment will take place within existing industrial facilities, thus, owing to the project's technical characteristics and location, negative impacts by the project on any site of nature conservation are considered unlikely. Nonetheless, these aspects will be thoroughly verified during the due diligence.

The promoter has been assessed by the EIB as being a private company not being 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 the EU public procurement legislation then the EIB will duly inform the European Commission and this will require the promoter to apply those rules.