FERROVIE DELLO STATO ROLLING STOCK GREEN BOND

Promoteur – Intermédiaire Financier

TRENITALIA SPA

Lieu

• Italie
• Espagne

Description

The project consists of the acquisition of 34 trainsets for provision of commercial high speed rail services in Spain and Italy.

Additionality and Impact

The project supports the liberalization of passenger railway services and the expansion of the high-speed rail markets in Spain, France and Italy, thereby promoting a single rail market as well as modal shift from road and air to rail and sustainable transport in line with EU objectives. Electric rail transport is acknowledged to make a substantial contribution to climate change mitigation and therefore the project will be counted towards the Bank's climate action target. Some of the lines on which the trains will operate are located in cohesion and transition regions (Valencia and Andalusia in Spain and Campania in Italy). The project is 100% eligible under Climate Action. The EIB financial contribution will entail a long tenor, commensurate with the economic life of the assets financed, and the flexibility to sign in tranches and disbursed expeditiously, in line with the project´s implementation. Finally, this would be the first operation under the Green Bond Purchase Program, a new product launched by the EIB.

Objectifs

The project consists of the acquisition of 34 high-speed trainsets for provision of commercial services mostly on the Trans-European Transport Network (TEN-T) in Spain and Italy: -In Spain, 20 trains will be operated by ILSA (under a lease from Trenitalia) on the lines Madrid - Barcelona, Madrid - Seville/Malaga and Madrid - Valencia/Alicante under a 10-year framework agreement following the recent liberalisation of the market. -In Italy, 14 trains will expand the high-speed services operated by Trenitalia on open access on the high speed network The project supports the liberalisation of passenger railway services and the expansion of the high-speed rail markets in Spain and Italy, thereby promoting modal shift from road and air to rail and sustainable transport in line with EU objectives. Electric rail transport is acknowledged to make a substantial contribution to climate change mitigation and therefore the project will be counted towards the Bank's climate action target. Some of the lines on which the trains will operate are located in cohesion and transition regions (Valencia and Andalusia in Spain and Campania in Italy); the project will enable smart, sustainable and safe forms of transport and connectivity (physical and digital connections) which are needed to support the priorities of a balanced Europe and functional regions.

Secteur(s)

• Transports - Transports et entreposage

Montant BEI envisagé (montant approximatif)

EUR 550 million

Coût total (montant approximatif)

EUR 1238 million

Aspects environnementaux

The investment proposed under the project does not fall under either Annex I or Annex II of the Environmental Impact Assessment Directive 2011/92/EU (as amended by Directive 2014/52/EU) as manufacturing and use of rail rolling stock is not included in either list. The need of an EIA and/or assessment according to the Habitats Directive 92/43/EEC for associated facilities (e.g. maintenance workshops or depots) will be analysed during the appraisal. Arrangements for the replacement or decommissioning of old rolling stock will be reviewed during appraisal. All else equal, the project is expected to have a positive environmental impact by contributing to modal shift from road and air transport to railways.

Passation des marchés

The Bank requires the Promoter to ensure that contracts for implementation of the project have been tendered in accordance with the applicable EU procurement legislation, Directive 2014/25/EU, as well as Directive 92/13/EEC as interpreted by the Court of Justice of the EU, with publication of contract and award notices in the Official Journal of the European Union (OJEU), as and where required. In this case the project is being implemented by means of two supply contracts, one for 14 trains for Italy and one for 20 trains for Spain. The 14 trainsets for Italy constitute an additional order of a contract for supply of 50 trainsets, which was procured in 2010 by means of a procedure with qualification system, and for which the award notice was published in the OJEU in November 2010 (2010/S 223-341280). The award notice for the 14 trains was published in the OJEU in June 2019 (2019/S 112-275977). The contract for supply of 20 trainsets for Spain has been directly awarded. The award notice was published in the OJEU in August 2020 (2020/S 167-405644). The procurement of these trainsets has been assessed falling outside the scope of Directive 2014/25/EU.

Statut

Signé - 16/12/2021