WDP SOLAR PV AND EV CHARGING INFRASTRUCTURE LOAN

The project will finance investments in rooftop solar photovoltaic (PV) panels and charging infrastructure for electric vehicles (EV) to be installed in the warehouses de Pauw (WDP).

The rooftop installations will produce and store electricity from low carbon sources (solar PV), therefore reducing carbon emissions and air pollution compared to fossil-fuel generation. The project will increase the renewable energy generation capacity across three EU countries and thus supports the EIB's priority objectives for energy sector lending related to renewable energy sources, as well as national and EU 2030 climate objectives.

The Project helps to produce electricity from low carbon sources through the installation of solar panels on the roofs of the Promoter's logistic centres and co-located EV charging stations and small battery storage.

The Project addresses market failures related to climate and environmental externalities, by contributing to the reduction in CO2 emissions and other air pollution. This Project supports national renewable energy (RE) generation targets and will hence contribute to EU energy objectives, notably security of energy supply and tackling climate change. It also supports the Bank's priority lending objectives concerning renewable energy and it will contribute 100% to climate action. The Project is therefore eligible under Article 309 (c) common interest in energy (RE) and environment (tackling climate change). Part of the project investment costs is expected to be located in cohesion priority regions and thus eligible under Article 309 (a). The Project is expected to yield a very good economic rate of return and positive broader social benefit.

The Promoter is deemed to be capable of implementing the project considering its overall experience. With the appropriate conditions in place (please see ESDS), the project is acceptable for financing in environmental and social terms. The EIB's financial contribution to the Project is high, as it provides longer term finance on competitive terms flexibility in drawdown and repayment, not readily available in the market. The EIB loan will also contribute to the diversification of funding sources and is expected to have a signalling and crowding-in effect.

Some of the project schemes may fall under Annex II of Directive 2014/52/EU amending the environmental impact assessment (EIA) Directive 2011/92/EU, thus requiring a review by the competent authorities at the planning/consent stage with due regard to the necessity for environmental and biodiversity assessments. The impacts that can typically be expected from some schemes relate to visual impact, electromagnetic fields, noise nuisance, and disturbance during construction. The appraisal will focus on impacts of the project and the related mitigants, as well as on the promoter's capacity to implement the programme in line with EIB environmental and social standards and requirements.

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 European Commission will be duly informed and this would require the promoter to apply those rules.