The European Investment Bank (EIB) signed a loan of €100 million with MC, with a term of 12 years, aimed at strengthening the sustainability of around 400 retail stores in Portugal. The operation “will contribute to the optimization of energy efficiency and the reduction of the overall carbon footprint of MC’s extensive retail network in the country,” the entities stated in a press release.
According to the same source, the financing agreement will support investments to replace current refrigeration systems with more efficient technologies, the installation of photovoltaic panels with energy storage systems at the supermarkets and charging stations for electric vehicles, as well as the implementation of waste management systems, such as automatic return machines for collecting recyclable packaging, among other measures.
The operation supports MC’s sustainability goals and significantly contributes to the climate action objectives of the EIB Group defined in its Strategic Roadmap for 2024-2027 and in the Second Phase of the Climate Bank Roadmap for 2026-2030. The contract falls under the EIB Action Plan to support REPowerEU, the program aimed at strengthening energy security and accelerating the energy transition, reducing the European Union’s dependence on fossil fuel imports.
Approximately three-quarters of the investments will be carried out in regions where GDP per capita is below the EU average, thus combining cohesion with climate action and competitiveness in the green transition. The promotion of economic, social and territorial cohesion is one of the EIB’s overarching strategic objectives.
“By supporting the company’s efforts to modernize its stores with cleaner and more efficient technologies and processes, we are contributing to reducing emissions, fostering cohesion, and adopting a more sustainable retail model that will benefit the Portuguese population,” said Pilar Solano, Director of the EIB’s Corporate Financing Department.
“The EIB’s support enables us to advance an extensive investment program focused on energy efficiency, renewable energy and circularity across our retail network. These initiatives are essential to improve operational performance, reduce emissions and ensure that our stores operate to the highest sustainability standards. This new financing rests on a long-standing strategic partnership between MC and the EIB, which has consistently allowed us to accelerate our sustainability plan and drive the transformation of our business. Strengthening this cooperation reflects our commitment to prudent capital allocation, while reinforcing our ambition to lead the transition to a more sustainable and resilient retail model,” says Fernando Van Zeller, Chief Financial Officer of MC.
This loan “strengthens the ongoing cooperation between the EIB and MC to reduce the environmental impact of its retail activity and complements the €55 million financing contract signed in 2019 with similar objectives,” the article notes, citing a €55 million financing contract signed in 2019 with similar objectives.
The operation is supported by InvestEU, the EU program intended to mobilize more than €372 billion in additional investment between 2021 and 2027.
