Financing the deployment of innovative technologies Fuel Cells and Hydrogen Joint Undertaking Stakeholders’ Forum 2016 Brussels, November 23rd, 2016 European Investment Bank 1
The EIB: the EU bank • Natural financing partner for the EU institutions since 1958 • EUR 78bn lending in 2015 (signature) • Around 90% of lending is within the EU • Shareholders: 28 EU Member States • Largest multilateral borrower and lender in the world Investing in Europe’s growth European Investment Bank 2
We focus on our key priorities ENVIRONMENT INFRASTRUCTURE INNOVATION SMEs EUR 19.6bn EUR 19.1bn EUR 18.7bn EUR 28.4bn EIB Group (EIB and EIF) European Investment Bank 3
EIB supports sound and sustainable projects furthering EU policy objectives European Investment Bank 4
EIB lending for innovation is reaching a larger number of (smaller) projects Total Lending in Innovation 2000-2015: EUR 168 bn 20,000 140 95 123 18,000 18.3 bn 120 95 108 104 16,000 16.1 bn 16.5 bn 15.6 bn 100 14,000 Total Lending volume (EUR m) Total number of operations 73 13.4 bn 12,000 76 80 57 12.5 bn 56 66 55 10,000 10.4 bn 10.9 bn 9.3 bn 60 10.7 bn 8,000 48 45 10.2 bn 7.1 bn 37 6,000 40 6.2 bn 27 5.1 bn 4,000 18 20 3.6 bn 2,000 2.2 bn 0 0 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 European Investment Bank 5
EIB supports FCH-technology projects Development of • catalysts / catalysed components for FCH applications Typically corporate-level • FCH technologies for domestic risk heating R&D • FCH powertrain systems for Corporate finance and automotive applications standard loans • FCH systems for decentralised power generation and marine applications Financial and / or technical Typically project-level risk advisory for potential deployment • HRS network for FCEVs Specific financial Full Scale • FCH bus system for regional instruments Technology transport Deployment Need for sound business Deployment of FCH-powered case, project structure, far- trolley bus pilot fleet for urban end strategy transport European Investment Bank 6
Traditional lending instruments often inadequate also due to slow and uncertain market uptake and limited visibility Weak business plan and uncertainty about expected cash flows Uncertainties about Lack / delay of market uptake private-sector and (timing, scale) and manufacturers’ long term investments commitments Slow market adoption, limited bankability and difficulty to mitigate risks appropriately European Investment Bank Group European Investment Bank 7
EIB financial and advisory instruments may support sound projects for the deployment of innovative technologies and FCH LENDING BLENDING ADVISING InnovFin – EU Direct / Bank Finance for Innovators Intermediated Loans European Investment Advisory Hub EFSI – European Equity Fund for Strategic Investments Technical Assistance Instruments Blending Structured Finance Other Sources of Investment European Investment Bank Group 8
A clear regulatory framework and coordinated initiatives to aggregate demand and build-up the market will facilitate financing of FCH technologies deployment … • Concerted decisions / policy choices • Predictability over the long-term Clear and coordinated • Lower regulatory / administrative barriers to regulatory framework investments • Coordination and aggregation of smaller projects into larger ones • Build-up of a larger market on a macro-regional Coordinated initiatives scale (critical mass, attract investments and financing) within and across countries • Aligned deployment in small markets / segments – e.g. to build scale of demand local/regional transport • Coordinated initiatives: public/private, across industries and technologies 9 European Investment Bank
… together with public funding visibility and commitment, targeted guarantee schemes, specific measures in public procurement and tenders Visibility and long-term • Visibility and commitment from “ time 0 ” about commitment on public the total budget funding & grants • Specific public guarantee Development of public / EU guarantees to address and mitigate the specific market risk schemes to address the associated with these technologies market risk “Pricing” the external • Policy support to innovative technologies benefits (public delivering wider economic benefits to be consistently ‘”priced” (weightings/points) in public procurement and public tenders) tenders / procurement 10 European Investment Bank
Thank you for your attention! www.eib.org info@eib.org European Investment Bank 11
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