Juncker Plan supports energy solutions company in Spain and energy-efficient social housing in Germany
The European Investment Bank (EIB) Group has signed two agreements under the Juncker Plan's European Fund for Strategic Investments:
The EIB is providing real estate company Vivawest with €300 million to build around 2,300 energy-efficient homes across North Rhine-Westphalia in Germany. Almost a fifth of these homes will be for social and affordable housing. Vivawest will also use the funds to build student housing and nurseries.
The EIB is also lending Spanish energy solutions company Ingeteam €70 million to invest in research, development and innovation for new solutions to meet the needs of the energy transition. Its RDI programme will focus on renewable energy generation, energy storage and electric mobility.
Commenting on the Vivawest project, Marianne Thyssen, European Commissioner for Employment, Social Affairs, Skills and Labour Mobility, said:
Having a place to live is one of people’s basic needs. Housing should be accessible for all, and therefore it needs to be both affordable and adequate. This is also one of the key principles of the European Pillar of Social Rights. I can only applaud this agreement which will create more social and affordable homes in Germany – homes that, to top it off, will be energy efficient and in line with the EU’s efforts on the climate action front.
More information is available in two press releases here below. As of September 2019, the Juncker Plan has mobilised €433.2 billion of additional investment, including €46.7 billion in Spain and €34 billion in Germany. The Plan is currently supporting 972,000 small and medium businesses across Europe.