ANNOUNCEMENT 13 Dec 2009

On 13 December 2009, the EIB provided financing worth EUR 250 million (USD 365 million).

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising
Inception date: 13 Dec 2009 | Removal date: open ended

State loan

On 13 December 2009, the European Investment Bank (EIB) and Diputacio De Barcelona signed an agreement worth EUR 250 million (approx. USD 365 million) for the project Energy Effic & Renewables Barcelona from Spain. The total cost of the project is estimated at EUR 500 million.

According to the project description issued by the EIB, Development of the energy efficiency and renewable energy potential in the province of Barcelona. The project is developed in the framework of the Covenant of Mayors initiative of the European Commission.

The objective of the project is defined as following: The development of renewable energy and energy efficiency projects supports national and European targets in these two areas and thus supports climate change and security of energy supply objectives of the EU. In particular, the project contributes to the objectives of the Covenant of Mayors initiative of the Commission, as over 60 municipalities of the Barcelona province have joined the Covenant. These municipalities have committed to reduce GHG emission by over 20% by 2020..

A state act in the GTA database is assessed solely in terms of the extent to which its implementation affects foreign commercial interests. On this metric, the investment support granted here is discriminatory.

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