European Investment Bank’s Energy Lending Policy

EASE submitted a response to the European Investment Bank’s Public Consultation on the EIB Energy Lending Policy.

The consultation examines how future EIB backed investment can reduce energy consumption through energy efficiency, better support renewable power generation, improve financial and advisory backing for energy innovation and secure infrastructure essential for energy transition.

Energy storage is recognised in the ‘Clean Energy for All Europeans’ package as one of the key building blocks of the energy transition. Storage is essential to integrate rapidly increasing shares of variable renewable energy sources (RES) along the entire value chain – from generation to consumption - while ensuring system stability, efficiency, and the active participation of consumers. Moreover, energy storage can support the decarbonisation of the mobility, gas, heating, and cooling sectors by enabling sector coupling. The importance of energy storage and other flexibility technologies should be further emphasised.

EASE supports a technology neutral approach, wherever possible, with regards to energy storage technologies. This should be considered in the EIB’s energy lending policy, instead of only focusing on batteries.