SPAIN: Santander and EIB launch a new credit line for energy efficiency
The European Investment Bank (EIB) and Santander Spain have just launched a credit line aimed at companies and independent entrepreneurs to invest in energy efficiency. This line, endowed with 50 million euros contributed by the EIB, is a pioneering product in the Spanish financial system, developed by Banco Santander in collaboration with the EIB and the European Commission. The target sectors of the credit line are energy efficiency in existing buildings, district heating and cooling, cogeneration of heat and power and renewable energy in buildings.
The companies that access this line of financing will be able to benefit from the advantageous conditions of EIB financing, both in terms of interest rates and repayment terms, in order to make the necessary improvements to their energy efficiency.
This credit line has a technical advisory component that supports Banco Santander’s in the implementation of this instrument as well to strengthen the capabilities for evaluating and financing energy efficiency projects. MACS will keep the lead with technical advises to Banco Santander as part of the Expert Support Facility.