ICO-IDAE Energy Efficiency Line

ICO-IDAE Energy Efficiency Line

Image result for ICO-IDAEWe help to obtain a specific ICO Line for the Industrial, Commercial and Hospitality sectors (specific CNAEs) that carry out investments aimed at achieving an improvement in energy consumption.

At BBVA we offer the advantages that companies and entrepreneurs need to make their work easier.

  • Up to 100% of the amount approved by IDAE for each project.
  • Energy efficiency of the Industrial and Commercial sector: 3 million euros.
  • Renove plan for savings and energy efficiency in Hospitality: 1.5 million euros.

Apply for

  • Basic characteristics
  • Economic conditions

Beneficiaries :

  • Autonomous companies and companies belonging to the Industrial, Commercial and Hospitality sectors (specific CNAEs) that carry out investments aimed at achieving an improvement in energy consumption.

Sections :

  • Energy efficiency of the Industrial and Commercial sector.
  • Renove plan for savings and energy efficiency in Hospitality.

Validity

Until December 17, 2018 or until the consumption of available funds.

Bankable investments

The costs necessary to achieve the reduction of energy consumption will be financeable, which may include, among others, the following concepts: preparation of technical projects related to actions, costs of optional management, cost of civil works and installation of facilities; necessary equipment, materials and auxiliary facilities, transport costs, technical assistance and those directly related to the execution of the project, as well as those necessary for the legalization of the facilities and the obtaining of licenses from both professional associations and administrations; costs necessary to submit the application such as project, technical memories, certificates, etc.

The Projects to be financed require the prior approval of the IDAE.

In general, the investments to be financed may not be prior to the date of communication of the client’s request by the Financial Entity to the IDAE.

The maximum term of execution of the investments will be 24 months (Industrial and Commercial sectors) and 12 months (Hospitality sector).

BBVA financing through the ICO-IDAE Line Energy Efficiency 2017-2018. The granting of operations is subject to compliance with the requirements established in the ICO Line and prior authorization of financing by BBVA.

Maximum amount

Up to 100% of the amount approved by IDAE for each project, establishing the following maximum financing amounts per project:

  • Energy efficiency of the Industrial and Commercial sector: 3 million euros.
  • Renove plan for savings and energy efficiency in Hospitality: 1.5 million euros.

Financing modality

Operations can only be formalized by the loan modality.

Term of operations

The customer can choose between:

  • Energy Efficiency of the Industrial and Commercial sector: From 1 to 10 years (without lack or with 1 year of lack of principal).
  • Renove plan for savings and energy efficiency in Hospitality: From 1 to 5 years (without lack or with 1 year of lack of principal).

Type of interest

Fixed or Variable, varying the differential depending on the term of the operation.

Voluntary early cancellation

Voluntary early cancellation: Full or partial early cancellation can be made (reducing the fee). In general, the commission for voluntary early cancellation will be 1% for transactions formalized at a FIXED rate and 0.50% for operations at a VARIABLE rate. These commissions vary if the transaction is within the Law 41/2007, regulation of the mortgage market, depending on when the cancellation is carried out

BBVA financing through the ICO-IDAE Line Energy Efficiency 2017-2018. The granting of operations is subject to compliance with the requirements established in the ICO Line and prior authorization of financing by BBVA.

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