BAKU, Azerbaijan, February 28. The European Investment Bank (EIB) Group, consisting of the EIB and the European Investment Fund (EIF), has entered into a new synthetic securitisation agreement with Santander to finance energy efficiency projects in Spain's real estate sector, Trend reports.
The agreement focuses on the construction of near-zero-emission buildings and the renovation of existing residential properties to meet sustainability standards.
This initiative will enable the provision of green and sustainable mortgages to individuals investing in the renovation or construction of energy-efficient buildings that meet EIB eligibility criteria. The projects financed will aim to improve energy efficiency, reduce CO2 emissions, and support climate change mitigation efforts.
The EIB's contribution to the operation is approximately 76 million euros, while the EIF has committed 45 million euros.
The EIB Group’s total investment of 121 million euros will be executed through a single securitisation. This structure is designed to provide Santander with capital relief on a portfolio of residential mortgages and enable financing for new energy efficiency projects worth 1.34 times the EIB Group guarantee. This operation aligns with the EIB Group's priorities, including climate action, cohesion, and the development of the European securitisation market.