EIB and Gmp Join Forces to Promote Investment in Sustainable Buildings in Madrid

he European Investment Bank (EIB) is providing GMP Property Socimi (Madrid) with a €28mn loan to develop net-zero energy buildings as well as refurbishments to improve energy efficiency. While the EIB financing will support national and European energy efficiency targets and help mitigate climate change, the EIB aims to propagate growth of highly energy-efficient buildings in Spain. Paolo Gentiloni, European Commissioner for the Economy, notes “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.” With the Castellana 81 building getting energy improvements and the ARQBÓREA building in Las Tablas as one of the near zero energy projects financed by GMP and supported by EIB, the primary energy savings are estimated at 3,420 megawatt hours per year (MWh/year), implying CO² emissions savings equivalent to the average emissions produced by 124 EU households a year.