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According to the Bank’s website, the project will finance the construction and operation of a set of renewable energy plants, such as solar photovoltaic, onshore wind and a battery storage in Spain, Portugal and Italy in the period 2024-2026.
The aim is to finance part of the Promoter's renewable energy pipeline.
Some individual schemes and most of the ancillary infrastructure fall under Annex II of the environmental impact assessment (EIA) Directive 2011/92/EU as amended by Directive 2014/52/EU, requiring the competent authorities to determine whether an EIA Report is required, while the wind projects fall under Annex I, requiring an EIA report. Some of the schemes have already undergone an EIA process and obtained positive environmental decision. Likewise, most of the other projects are expected to be screened in or subject to an EIA process.
The EIB will assess the capacity and procedures of the Promoter to ensure the schemes' compliance with the sector-relevant national and European environmental and biodiversity regulations. For large allocations, the authorization procedure and compliance with the relevant EU directives, specifically Habitats and Birds Directives (92/43/EEC and 2009/147/EC respectively), will be further assessed during the appraisal of the individual scheme.
Given that China largely dominates the market of photovoltaic solar panels, and media reports about the risk of forced labour, the EIB will apply an enhanced due diligence on the topic, in line with the EIB's Environmental & Social Standards.
The project contributes to the Climate Action and Environmental Sustainability (CA&ES) objectives, in particular to climate change mitigation and pollution prevention and control.
A Framework Loan.
EDP Renováveis is a renewable energy company registered in Oviedo, and headquartered in Madrid that designs, develops, manages and operates power plants that generate electricity using renewable energy sources.
EDPR was established in 2007 to hold and operate the growing renewable energy assets of parent company Energias de Portugal (EDP Group), Portugal's largest utility company headquartered in Lisbon. EDP Renováveis is the fourth-largest generator of wind energy globally.
EDPR's business includes wind farms and, to a limited but growing extent, solar energy activities. EDPR has continued to grow in recent years and is now present in 13 international markets (Brazil, Canada, Mexico, United States, Spain, Portugal, France, United Kingdom, Poland, Italy, Romania, Belgium and Greece).
| Private Actor 1 | Private Actor 1 Role | Private Actor 1 Sector | Relation | Private Actor 2 | Private Actor 2 Role | Private Actor 2 Sector |
|---|---|---|---|---|---|---|
| - | - | - | - | EDP Renovaveis SA | Client | - |
| - | - | - | - | EDP SA | Client | - |
Contact: Maite Cordero
Email: m.corderomunoz@eib.org
Phone: +34 606 66 82 62
ACCESS TO INFORMATION
You can submit an information request for project information at: https://www.eib.org/en/infocentre/registers/request-form/request-form-default.htm
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