Partnership between Endesa, Bankinter and OHLA to facilitate energy-related renovation of buildings of homeowners' associations, with european funds

The agreement has been signed by Bankinter's chief executive officer, María Dolores Dancausa, the CEO of Endesa, José Bogas, and Jose Antonio Fernández Gallar, CEO of OHLA.

They have signed a partnership to develop a "turnkey" solution for property renovation with the aim of increasing energy efficiency in homes and facilitating access to the Next Generation European Funds.

Endesa X and OHLA will act as joint "Renovation Agent" and carry out feasibility studies to offer the homeowners' associations the optimal solution as regards energy installations, building with sustainability criteria, energy savings and financial aid. Bankinter will supply the necessary financing to complete the energy-related renovation of these residential buildings until the arrival of aid from Next Generation European Funds.

The Spanish Government's commitment to property renovation and urban regeneration is ambitious, since this will the second largest target for the European Funds. These 6.820 billion euros can fund between 40% and 80% of the total renovation work, depending on energy savings.

Endesa, through its Endesa X business line, Bankinter and OHLA have signed a partnership to launch a turnkey solution on the market that includes design, construction and provision of efficient technology, as well as processing of subsidies so that homeowners' associations can undertake the energy renovation of their properties as much as possible, facilitating their access to aid from the Next Generation EU recovery funds.  It is estimated that, on average, between 30% and 60% of energy consumption can be avoided.

Endesa X and OHLA will act as joint "Renovation Agent" and carry out feasibility studies to offer the homeowners' associations the optimal solution as regards energy installations, construction, energy savings and financial aid. And Bankinter will handle the necessary financing to complete the energy-related renovation of these residential buildings until the arrival of aid from the Next Generation European Funds. The owners' associations will have immediate access to the funds needed to undertake such improvements (and their inherent environmental advantages and significant energy savings), with a product adapted to the needs of each association and under very attractive market conditions.

This partnership represents a firm step for OHLA, Bankinter and Endesa in their commitment to building more sustainable cities. Thanks to this agreement, development and urban regeneration will be promoted, with an investment in more inclusive, safe, resilient and sustainable spaces, as required by goal 11 of the Sustainable Development Goals approved by the UN in 2015.

Endesa X provides years of experience implementing energy-saving and energy-efficient solutions. Its offerings are mainly focused on three areas: energy efficiency solutions to reduce consumption; digital monitoring, optimisation and energy management systems; and clean energy production systems. And its great capillarity allows it to provide services across the whole of Spain.

OHLA has know-how built on more than 110 years of history in the renovation of residential buildings, thus promoting the reduction of energy use and the well-being of households. The company will make use of its experience as a leader in sustainable construction, using sustainability criteria through the application of techniques and processes based on innovation, usability of infrastructures and the assurance of individual well-being.

Financing, which will be provided by Bankinter, will come in the form of a loan of up to one million euros, with a maximum term of 12 years, which does not require opening a bank account or arranging additional products and which is formalised by the digital signature of the association's representative. In short, there is only one subscription process, 100% online, with no pledged commitment. The amount is available in the association's account in less than 72 hours. This represents a cultural change in the usual dynamics of homeowners' associations, by replacing unpopular outlays with flexible, long-term financing.

Energy efficiency and emission savings

One of the main causes of climate change is the excessive energy consumption of buildings. In cities, the residential sector accounts for 18% of the country's total energy consumption. In fact, the Spanish government's commitment has been ambitious, since this will the second largest target for the European Funds. The housing renovation and urban regeneration plan provides for about 6.820 billion euros to fund between 40% to 80% of the total renovation work, depending on energy savings.

The energy renovation of properties is key for Spain to achieve its decarbonisation targets since, at the moment, it accounts for 8% of total emissions in the country. Additionally, according to data from the national statistics institute (INE) and the Ministry of Development, properties are very old: their average age exceeds forty years and they do not meet energy saving and thermal insulation standards. There are 25.7 million residential properties in Spain, of which around 19 million are primary residences. However, more than half were built before 1980, when the first regulations including mandatory measures for thermal building insulation began to be approved.

About Endesa

Endesa is the leading power company in Spain and the second in Portugal. It is also the second gas operator in the Spanish market. It engages in an integrated generation, distribution and marketing business; and offers, through Endesa X, added-value services aimed at the electrification of energy uses in homes, companies, industries and public administrations. Endesa is firmly committed to the United Nations SDGs and, as such, strongly promotes the development of renewable energies through Enel Green Power Spain, grid digitisation through e-distribution, and Corporate Social Responsibility. In this last sphere, we also act from the Endesa Foundation. Our human team is made up of around 9,600 employees. Endesa is part of Enel, the largest electricity group in Europe.

Endesa X is Endesa's line of business offering innovative solutions that support the energy transition, turning decarbonisation and electrification targets into beneficial activities that support cities, companies and people in a changing world. On the strength of a strategy focused on digitisation and innovation, Endesa X offers an ecosystem of closely interconnected solutions, which turns energy into new opportunities for different sectors: electric mobility, public and private energy efficiency, artificial intelligence services and data analysis and energy consulting. Endesa X designs, creates and provides modular commercial proposals that allow everyone to create new value thanks to innovative energy use. This approach focuses on the principles of sustainability and circular economy to offer households, administrations and companies an alternative model that respects the environment and integrates technological innovation in the daily lives of customers – the core of its strategy. Endesa X is the strategic partner that makes new opportunities a reality.  Endesa X is the division in Spain and Portugal of Enel X, world leader in the advanced energy solutions sector; it manages demand response services, with some 7.4 GW of total capacity and 137 MW of installed storage capacity worldwide, as well as some 232,000 charging points for electric vehicles available worldwide ([1]).

About Bankinter

Bankinter is the sixth bank in terms of size in the Spanish financial system, the fourth in terms of market capitalisation and profits, and the first in terms of profitability and quality of assets. It has more than 102 billion euros in total assets, lendings of 66 billion and controlled resources of 113 billion. With a presence in Spain, Portugal, Ireland and Luxembourg, Bankinter bases its strategy on different complementary lines of business. These include the corporate business, with special focus on the medium and large segments; high-net-worth customers, where the bank has a market share far exceeding its size; consumer, through its subsidiary Bankinter Consumer Finance; and the recently acquired Bankinter Portugal and Avantcard in Ireland. 

Bankinter Group employs more than 6,100 people in Spain and Portugal. It is the only bank that has maintained its growth in workforce in recent years, and a stable number of branches.

The bank's optimal situation in terms of capital adequacy, profitability and asset quality was endorsed in the latest stress tests carried out on the entire financial sector by the European Banking Authority (EBA): Bankinter was the Spanish bank with the least impact in the stressed scenario and the third with the least impact in Europe.

About OHLA

OHLA is a global infrastructure group with more than 110 years of experience and more than 20,000 employees. The company focuses its activity on three large geographic areas: the US, Latin America and Europe. It is the 40th largest international contractor and have been named contractor of the year in New York and California, according to the prestigious ranking of the Engineering News-Record publication.

OHLA is a market force as regards the construction of large infrastructure projects and the management of concessions. Specifically, the company's outstanding track record includes large civil engineering, individual and hospital building, industrial and service contracts.

Throughout its long history, OHLA has shown its experience in residential construction with projects that range from unique single-family homes to buildings and property developments equipped with community services that seek to integrate into their surroundings. Its portfolio exceeds eight million square metres built and distributed in more than 60,000 homes; and its presence extends to countries such as Spain, the US, the Czech Republic and Ireland.

OHLA is committed to innovation and sustainability in residential construction. Common practices in this type of project include home automation systems for management of different energy sources, thus optimising their use and reducing their consumption, and the implementation of passively-operated devices that capture solar energy. And we should note the implementation measures that respond to the criterion of nearly zero energy consumption, nZEB (Nearly Zero Energy Buildings). In construction or renovation works, OHLA uses cutting-edge methodologies that guarantee optimised execution times and excellent results. This is the case of BIM (Building Information Modelling) and the MES platform (monitoring of singular structures). OHLA also promotes innovation through the development and application of its own solutions for the development of new environmentally friendly construction materials, based on geopolymers obtained from microsilica; and the launch of an innovative post-tensioned concrete cut-off wall construction process with movement control.