Under the terms of the investment announced on 27 May, the EIB will loan PLN 82m (around €18m) to Energy Solar Projekty sp.z o.o. for the construction and operation of 66 small-scale, independent photovoltaic (PV) plants. With a combined capacity of up to 66MW, the plants can serve the equivalent of 19,000 households and help reduce 47,000 tons of carbon dioxide each year. The deal is guaranteed by the European Fund for Strategic Investments, the financial pillar of the Investment Plan for Europe, a joint initiative of the EIB and the European Commission. The EU bank is also investing in the Spanish multinational Gestamp, which specialises in the development and manufacture of metal components for the automotive industry. The EUR 200 million loan agreed on 26 May will enable Gestamp to develop new research lines enabling the production of safer, lighter and therefore more environmentally friendly cars.