The project relates to the EIB participation in a public green hybrid bond inaugural issuance of up to EUR 1bn in total, made by Red Electrica Corporacion SA ("REC"), the parent company of Red Electrica de Espana SAU ("REE"), which is Spain's transmission system operator. The specific type of financing structure will support (i) the longer term funding required by REC's investment plan and (ii) its long-term credit profile, allowing it to raise financing at adequate conditions to support its investments. The operation will support REE's investments in the context of Spain's "Electricity Transmission Network Development Plan 2021-2026" (the "Plan") and will be in particular important to ensure security of energy supply in the country.
|InvestEU operation amount||EUR 250 million|
|Sector||SECTION D: Electricity, Gas, Steam and Air Conditioning supply|
|Subsector||Transmission of electricity|
|Policy window||Sustainable Infrastructure|
|Approval by the Investment Committee||20 October 2022|
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- Sustainable Infrastructure (SIW)