BPI signed a financing and guarantee agreement with the European Investment Bank (EIB) valued at 50 million euros to support energy efficiency investment projects under favourable terms.
This pertains to the 1st agreement concluded in Portugal under the Private Financing Instrument for Energy Efficiency (PF4EE), a joint initiative between the EIB and the European Commission to promote the development of energy efficiency and small investments in renewable energies by the business sector in Portugal, benefiting from European Union support under the LIFE Programme â Environment and Climate Action Programme.
Under this agreement, BPI became the exclusive financial intermediary of this product in Portugal, having created the BPI/IEB Energy Efficiency Line, corresponding to a value of 50 million euros, which aims to finance, under competitive conditions, energy efficiency projects carried out in Portugal by resident companies operating in Portugal.
- Access to financing specifically adapted to the needs of energy efficiency projects;
- For companies of any size;
- Competitive spreads;
- Terms of up to 20 years;
- Without de minimis consumption.
- Companies regardless of respective size, excluding holding companies;
- Resident and operating in Portugal;
- Do not meet conditions to be considered as companies under difficulties, as defined in Commission Communication 2014/C 249/01, of 31 July 2014;
- No outstanding obligations to the Tax Administration and Social Security and no unjustified incidents or defaults with the Bank;
- Do not belong to excluded sectors (e.g., financial sector, real estate, weapons, gambling, tobacco, cloning, etc.).
- Associations: as long as they have organized accounts and are certified by IAPMEI as SMEs;
- Companies that carry out activities in the Social Sector, provided that they carry out economic activity within the framework of the business (measured by the existence of turnover), have organized accounts duly certified by IAPMEI as SMEs and comply with other requirements of the Line;
- Public Entities, provided that the financing is made through the ESCO model.
Note: "purely" real estate activity means companies whose main activity is the purchase / sale of real estate, such as:
- construction of houses for sale;
- conversion of buildings into apartments for sale;
- construction of commercial spaces, such as shopping centers, for sale / lease;
- construction of business parks or offices for sale / rent.
- Located in Portugal;
- With an investment of up to 10 million euros (inclusive);
- Conducted between 22 June 2016 and 21 June 2020;
- Operations that present an energy audit (only for public lighting projects or investment amount without VAT exceeding 500,000 euros);
- Users of proven technologies;
- Related to projects that involve permanent measures related to energy efficiency (both tangible and intangible assets), promote reduced consumption and fulfil technical and economic conditions defined by the EIB, for example:
- Energy efficiency work in existing buildings with respect to thermal performance of the building envelope and building systems (heating, hot water, ventilation, cooling, lighting, and automation and control), as well as decentralised energy production (production units for self-consumption from renewable sources);
- Energy efficiency projects in industries that reduce energy consumption and do not increase production capacity by more than 30%;
- Modernisation of public lighting systems (through ESCO model);
- Generation of renewable energy from biomass;
- Other measures identified in energy audits carried out in accordance with standards.
- Comply with national and Community legislation on public procurement and the environment;
- In the case of heat pumps, compliant with the Ecodesign Directive and it regulations (Directive 2009/125/EC);
- No significant social impact and do not require resettlement that cannot be reliably mitigated.
- Operations related to root projects (e.g., construction of industrial buildings or halls);
- Operations pertaining exclusively to reduction of charges associated with energy consumption, without reducing the amount of energy consumed;
- Operations in excluded sectors.
Prior eligibility verification
Operations eligibility can be checked in advance by Clients or suppliers of energy efficiency solutions through the following application developed by the EIB and BPI:
In addition to the prior framework of energy efficiency projects for financing through this line, the application:
- Assesses the potential of energy savings for different Client projects;
- Gives rise to a document, in PDF, with the result of the analysis, in which it is possible to see if the project is fit on the line, and the document can be sent directly by e-mail or delivered at the counter or business center.
Number of Operations
- There is no limit to the number of operations contracted by the customer/company (NIF), provided that overall financing does not exceed 5 million euros in the case of projects carried out by SME or projects related to refurbishment of buildings, and 1,125,000 euros in other cases;
- If the project benefits from EU subsidies, the maximum amount of joint support (financing + other subsidies) should not exceed 90% of the investment.
Line amount: 50 million euros.
Amount of operations:
- Minimum:â¬ 40.000;
- Maximum: 5 million euros in the case of projects carried out by SME or projects related to the refurbishment of buildings; â¬ 1.125.000 in other cases.
As a general rule, only up to 75% of the eligible investment can be financed.
Minimum: 3 years.
Maximum: up to 20 years; the date of the last repayment cannot be after 31/12/2039.
Grace period: up to approximately 24 months, without prejudice to longer periods, if justified, taking into account the projectâs characteristics; the date of the last disbursement cannot be after 21/12/2019.
- Portfolio guarantee provided by the EIB;
- Other routine guarantees may be required by BPI, particularly mortgages and commercial pledges.
De Minimis Aid
This line does not contribute to consumption of de minimis aid.
For more information, please go to any BPI Branch or Corporate Centre or contact us.
This information is provided for advertising purposes and does not constitute a contractual offer; you must read the pre-contractual and contractual information required by law.
Contracting subject to prior approval by the entities involved and subject to the conditions defined according to the risk profile of each operation.
Banco BPI, S.A., Rua Tenente Valadim, 284, Porto, Tied Insurance Intermediary no. 207232431 (registered with the Insurance and Pension Funds Supervision Authority on 31-10-2017 - more details on the registration available at www.asf.com.pt); authorised to carry on insurance business in the Life and Non-Life Branches with the insurers BPI Vida e Pensões - Companhia de Seguros Vida, S.A., Companhia de Seguros Allianz Portugal, S.A. and COSEC - Companhia de Seguro de Créditos, S.A. Banco BPI, S.A. is not authorised to receive premiums or enter into contracts on behalf of COSEC, Allianz or BPI Vida e Pensões and, as an insurance intermediary, assumes no responsibility for the coverage of risks inherent in the insurance contract.