EIB Group and Santander Partner on €121M Securitisation Deal to Boost Energy-Efficient Housing in Spain

The financing will enhance energy efficiency, contribute to reducing CO2 emissions, and support climate change mitigation efforts in line with the EIB Group’s core priorities.

The European Investment Bank (EIB) and the European Investment Fund (EIF), together forming the EIB Group, have joined forces with Santander in a new synthetic securitisation operation aimed at accelerating energy efficiency investments in the Spanish real estate sector. This initiative will support the construction of near zero-emission buildings and the renovation of existing residential properties to meet modern sustainability standards.

Through this operation, individuals investing in energy-efficient renovations or constructing sustainable buildings will have access to new green and sustainable mortgages that comply with EIB eligibility criteria. The financing will enhance energy efficiency, contribute to reducing CO2 emissions, and support climate change mitigation efforts in line with the EIB Group’s core priorities.

The EIB has committed approximately €76 million to this initiative, while the EIF has pledged €45 million. The entire €121 million EIB Group investment is structured as a single securitisation, designed to provide Santander with capital relief on a portfolio of residential mortgages. Under this transaction, the EIB Group will offer an unfunded guarantee in a mezzanine tranche, enabling Santander to extend new energy efficiency financing totaling 1.34 times the EIB Group’s guarantee amount.

This collaboration not only advances the EU’s green agenda but also strengthens the securitisation market in Europe, fostering sustainable financial solutions and promoting climate-friendly investments.