Investment Plan in Spain: Support for the construction and renovation of energy-efficient office buildings

The European Investment Bank (EIB) will provide a €28 million loan to GMP Property SOCIMI for new renovation and construction projects in Madrid which aim to reduce energy consumption and CO2 emissions in office buildings. This support is backed by a guarantee from the European Fund for Strategic Investments (EFSI), the main pillar of the Investment Plan for Europe. The planned development of near-zero-energy buildings and the refurbishment works are expected to generate energy savings of about 3,420 megawatt hours per year. Commissioner for the Economy, Paolo Gentiloni, said: “Good news for the climate and for the construction sector in Madrid, which has been hit hard: the Investment Plan for Europe is supporting GMP’s investments in the construction of new office buildings and the renovation of old ones to meet the latest emissions and energy standards. Buildings are still the origin of 40% of our emissions, so their renovation is key to meeting our climate targets and is also a major source of new jobs. I hope to see many, many more investments of this kind in Spain in the coming years as part of the recovery effort.” The press release is available here. So far, the Investment Plan for Europe has mobilised €535 billion of investment across the EU, €58 billion of which in Spain.