21 November 2024
- The investment will go towards improving energy efficiency in ILUNION’s hotels and industrial laundries, promoting climate action.
- The project also contributes to social inclusion via ILUNION’s work enabling people with disabilities to join the labour market.
- The EIB will also provide ILUNION with an advisory service for the design of an energy efficiency, water management and circular economy strategy.
- The project supports the REPowerEU plan to increase energy security and accelerate the energy transition in the EU.
The European Investment Bank (EIB) and ILUNION, a company of ONCE Social Group, have signed a €60 million green loan to finance the use of energy-efficient technologies at 50 of the company’s facilities. The investments focus on ILUNION’s network of hotels and industrial laundries in Spain.
This EIB operation will promote energy savings in industrial facilities and buildings, thereby contributing to the country’s energy security and the green transition. The project will generate primary energy savings of around 45 000 MWh/year, mainly by reducing natural gas use. This means it will contribute to one of the main objectives of the REPowerEU plan to increase energy security and accelerate the energy transition in the EU. Another overarching objective is to enable people with disabilities to join the labour market.
“We are delighted to help a company that is so vital to the creation of jobs for people with disabilities. This EIB loan also meets one of our key priorities – accelerating the green transition – by investing in energy efficiency projects,” said Head of the EIB’s Corporates and Regulated Utilities Operations Division for Spain Antonio Lorenzo.
“ILUNION is Europe’s leading company in social impact investment and promotes the social inclusion of people with disabilities through employment. This EIB loan will be used to strengthen one of ILUNION’s strategic pillars: contributing to the development of a more sustainable economy that reduces its environmental impact. ILUNION is developing a decarbonisation strategy focusing on renewable energies, implementing energy efficiency measures, promoting sustainable mobility and implementing a climate action plan for its entire value chain’, explained Alejandro Oñoro, ILUNION’s CEO.
This financing has been partially supported by the InvestEU programme and underscores the EIB’s commitment to economic, social and territorial cohesion, given that approximately 57% of the total investment will go to regions where the income per capita is below the EU average.
The agreement is also supported by EIB Advisory, which will advise ILUNION on the development of energy efficiency audits for the company’s industrial laundry buildings and the creation of an environmental strategy focused on water efficiency and the circular economy in existing infrastructures.
Background information
EIB
The European Investment Bank (EIB) is the long-term lending institution of the European Union owned by its Member States. It finances sound investments that contribute towards EU policy goals. EIB projects bolster competitiveness, drive innovation, promote sustainable development, enhance social and territorial cohesion, and support a just and swift transition to climate neutrality.
The EIB Group, consisting of the EIB and the European Investment Fund, reported total financing signatures in Spain of €11.4 billion in 2023, approximately €6.8 billion of which went to climate action and environmental sustainability projects. The EIB Group signed a total of €88 billion in new financing in 2023.
InvestEU
The InvestEU programme provides the European Union with crucial long-term funding by leveraging substantial private and public funds in support of a sustainable economy. It also helps mobilise private investment to back EU policy priorities, such as the European Green Deal and the digital transition. InvestEU brings together under one roof the multitude of EU financial instruments helping to make funding for investment projects in Europe simpler, more efficient and more flexible. The programme consists of three components: the InvestEU Fund, the InvestEU Advisory Hub and the InvestEU Portal. The InvestEU Fund is implemented through financial partners that will invest in projects using the EU budget guarantee of €26.2 billion. This guarantee will increase the risk-bearing capacity of the financial partners and aims to mobilise at least €372 billion in additional investment.
ILUNION
ILUNION is a leading business group in transformation and diversity. As of 31 October 2024, it had a workforce of more than 42 500 people, of whom more than 16 800 are people with disabilities (40% of its workforce) and 954 vulnerable people. As part of the ONCE Social Group, its business model is committed to achieving economic and social profitability.
ILUNION celebrates its 10th anniversary as a brand in November, although as a business experience it has been in existence for more than 30 years. It is present in six economic sectors in the country and has begun to operate in Colombia and Portugal. It is an important service provider, both to other companies (TextilCare, Contact Centre, Security, Industrial Services, Accessibility, among others), and to individuals (Hotels, VidaSénior, Retail, etc.).
Its management is based on four pillars that permeate its activity: people, transformation, excellence and sustainability. With two clear lines of action, the employee and customer experience. And always, without forgetting its purpose: to build a better world with everyone included.
Source – EIB