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EIB Energy Lending PolicySupporting the Energy TransformationCESEC Electricity Plenary and Working Group14th February 2020
Emmanouil Styvaktakis Senior Engineer, Energy Department
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EIB: the EU Bank
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‣ Natural financing partner for the EU institutions since 1958
‣ Around 90% of lending is within the EU
‣ Shareholders: 27 EU Member States
Investing in Europe’s growth
EIB financing in 2019
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Share of climate financing rises to 31%
Energy Lending Policy in a nutshell
• Phasing-out fossil fuels
• Focusing on energy efficiency and decarbonisation
• Engagement with Member States and clients
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Context
European Investment Bank Group 5
• Paris Agreement
• EU 2030 Climate and Energy targets
• Long term energy system transformation
• High investment needs: 400 bn/y in the EU
Overall Energy Signatures (EUR bn) Breakdown by sectors (2014-2019)
• EUR 12bn per year (2014-2019)• Energy represented 18 % of EFSI • c. 85% of energy lending inside EU
• Driven by EU energy policy• Focus on RE, EE and networks• Increase of EE over last years
EIB lending to the energy sector
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Public consultation
European Investment Bank Group 7
• External consultation from Jan. to March 2019 (11 weeks)
• Public consultation meeting in Brussels on 25 February 2019
• 149 contributions, 3 petitions signed by over 30,000 people
• Comprehensive consultation report (> 100 pages)
• Several discussions at the EIB Board
Phasing out fossil fuels
• EIB will phase out energy projectsthat depend on fossil fuels
• Transition measures by end 2021• Projects already under appraisal• Gas projects in the 4th list of PCIs
• EIB will continue to support• Low carbon gases (hydrogen, biogas,
and gas networks planned for that)• Power generation below 250 gCO2/ kWh
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Themes of Energy Lending Policy
European Investment Bank Group 9
Unlocking energy efficiency
Decarbonising energy supply
Supporting innovative technologies and new types of energy infrastructure
Securing the enabling infrastructure
Unlocking energy efficiency
Key priorities:
• “Energy efficiency first” principle
• Financing up to 75% of costs
• Focus on building rehabilitation
• New European Initiative for Building Renovation
• Development of new sources, e.g. mortgage-based lending
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Decarbonising energy supplyKey priorites:
• All low carbon technologies are eligible
• Financing up to 75% of costs for high policy value projects
• Support market integration of renewables
• Technologies at early stage of deployment
• Low carbon gases
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Securing the enabling infrastructure
• Project of Common Interest (PCIs), transmission
• Distribution (renewables integration, flexibility)Power
Gas
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• Gas PCIs from the 4th list until 2021
• Network projects planned to transport low carbon gases
• Rehabilitation and expansion of district heating networks under certain conditions
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Supporting innovative technologies and new types of energy infrastructure• Close alignment with Strategic Energy Technologies (SET plan)
• Corporate or national RDI programmes, including demonstration ofinnovative technologies and innovative manufacturing processes
• All technologies are eligible, including renewables, carbon captureand storage, nuclear fission and fusion
• New types of energy infrastructure:
• Batteries, demand response, electrification of transport
• Energy communities, microgrids, small isolated systems
• Increased automation, digitalisation and “smart” networks
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Energy Transition Package (ETP)
• ETP provides support to 10 MS (EE LT LV PL CZ SK HU RO BG HR)with higher needs: up to 75% financing for all energy projects
• ETP will support Integrated development strategies in coaland carbon-intensive regions
• EIB will work with the EC on the Just Transition Initiative
• EIB will support to National Energy and Climate Plans
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Engagement with MS around the National Energy and Climate Plans
• Strengthen dialogue with governments
• Energy Finance Workshops
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Outside EU: same lending policy applies
• The same lending policy applies outside the EU(phasing out of lending to fossil fuel)
• EIB will support the universal access electricity goal (SDG7)
• Regional Focus on Neighborhood and Sub-Saharan Africa, and otherregions in accordance with the Bank’s mandates
The EIB will support projects that reinforce the Nationally Determined Contributions (NDCs)
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EIB RE/EE Lending to CESEC (2012-2019)
EU CESEC: 9.3 bn€ EC CESEC: 766 M€
• RE lending mostly to wind,small/medium scale solar, hydro andgrid connection of RE
• EE lending mostly to rehabilitation ofbuildings but also industries(refineries, glass etc) through directloans or intermediated throughbanks, funds or municipalities
• RE lending mainly to hydro andbiomass
• EE lending to rehabilitation ofbuildings (homes, schools etc),transport and agriculture
• Projects typically co-financed withother IFIs and with TA component
EIB and PCI/TEN-E: EUR 8.2 bn for electricity
17/02/2020 18
ES-PT (3)
CZ-AT
DE-NO
PL-LT
IT-SI
IT-Sardinia
NL-NO
ES-Balearic Islands
DK-NOFI-EE
IT-Sicily
FR-IT
FR-UK(2)
Signed
Canary Islands
ES-FR
Azores IT-GR
FR-BE (2)
IE-UK
UK-NL
AT-DE
FI-SE
MT-IT
HU-SK
Under appraisa
GR-Crete
