This project is still under review by the EWS. Project information and/or project analysis may be incomplete.
CAIXABANK PAN-EU WIND POWER PACKAGE (EIB-20240211)

Financial Institutions
  • European Investment Bank (EIB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
U
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Borrower
CAIXABANK SA
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
Not Disclosed
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Primary Source

Original disclosure @ EIB website

Disclosed by Bank Jul 15, 2024


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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.
DESCRIPTION The operation consists in an unfunded partial delegation linked risk sharing (LRS) transaction with the financial intermediary. The related sub-projects to be financed will be limited to manufacturing companies (Original Equipment Manufacturers or OEMs) producing or assembling in the EU, among others, turbines, grid connection's infrastructure, cables, transformer stations, sub-stations to be used in EU wind energy projects. In detail, it supports Caixbank in providing advance payment and performance bonds in relation to the obligations of OEMs and and possibly sub-contractors. ENVIRONMENT The proposed operation falls within the scope of the EIB's Environmental and Social Standards - "Standard 11 Intermediated Finance". The Borrower / Financial Intermediary has adequate capacity, systems and processes in place for identifying, assessing, managing and monitoring environmental, climate and social (ECS) risks related to the potential sub-projects benefitting from EIB support. The Final beneficiaries will be required to comply with applicable national and EU legislation in respect of environmental and social matters, as appropriate. OBJECTIVE The aim is to support the EU's wind energy sector and mobilise about € 8bn of investments into wind power related equipment. The Lending Envelope is a dedicated Guarantee Programme to allow banks to provide additional guarantees related to supply contracts of wind energy equipment manufacturers in the EU. PROCUREMENT Sub-projects need to comply with the EU legislation and the final beneficiaries under the new Caixabank portfolio will need to take all the requisite measures to ensure that the procurement procedures carried out will comply with the relevant EU procurement legislation and the applicable national legislation, provided that it is in conformity with EU rules.
Investment Description
Here you can find a list of individual development financial institutions that finance the project.

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.
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 ACCOUNTABILITY MECHANISM OF EIB The EIB Complaints Mechanism is designed to facilitate and handle complaints against the EIB by individuals, organizations or corporations affected by EIB activities. When exercising the right to lodge a complaint against the EIB, any member of the public has access to a two-tier procedure, one internal - the Complaints Mechanism Office - and one external - the European Ombudsman. A complaint can be lodged via a written communication addressed to the Secretary General of the EIB, via email to the dedicated email address: complaints@eib.org, by completing the online complaint form available at the following address: http://www.eib.org/complaints/form via fax or delivered directly to the EIB Complaints Mechanism Division, any EIB local representation office or any EIB staff. For further details, check: http://www.eib.org/attachments/strategies/complaints_mechanism_policy_en.pdf When dissatisfied with a complaint to the EIB Complaints Mechanism, citizens can then turn towards the European Ombudsman. A memorandum of Understanding has been signed between the EIB and the European Ombudsman establishes that citizens (even outside of the EU if the Ombudsman finds their complaint justified) can turn towards the Ombudsman on issues related to 'maladministration' by the EIB. Note that before going to the Ombudsman, an attempt must be made to resolve the case by contacting the EIB. In addition, the complaint must be made within two years of the date when the facts on which your complaint is based became known to you. You can write to the Ombudsman in any of the languages of the European Union. Additional details, including filing requirements and complaint forms, are available at: http://www.ombudsman.europa.eu/atyourservice/interactiveguide.faces

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