EIB Funds Prologis’ Push for Renewable Energy with €225 Million Loan for Solar and Storage Systems

(IN BRIEF) Prologis, a global leader in logistics real estate, has secured a €225 million framework loan from the European Investment Bank (EIB) to install rooftop solar panels and battery storage systems at its facilities across Western and Central Europe. These projects aim to reduce CO2 emissions, lower energy costs, and improve energy resilience in line with the EU’s REPowerEU initiative. The renewable energy systems, expected to be completed by 2026, will also allow for excess energy to be stored or sold back to the grid, furthering sustainability goals.

(PRESS RELEASE) LUXEMBOURG, 11-Dec-2024 — /EuropaWire/ — Prologis, Inc. (NYSE: PLD), a global leader in logistics real estate, has secured a €225 million framework loan from the European Investment Bank (EIB) to expand its renewable energy initiatives. The funding will support the installation of rooftop solar panels and battery storage systems across the company’s logistics centers in Western and Central Europe, significantly enhancing energy sustainability and resilience.

These projects, aligned with the EU’s REPowerEU initiative, are designed to lower carbon emissions, reduce energy costs, and strengthen energy security against potential blackouts. Excess energy generated from the solar panels can be stored or sold back to the grid, offering an additional layer of efficiency and sustainability. Prologis plans to roll out these installations at key locations in Germany, Belgium, Italy, France, Spain, the Netherlands, and Poland, with project completion anticipated by 2026.

EIB Vice-President Robert de Groot emphasized the broader impact of the collaboration, stating, “This loan enables Prologis to advance its sustainability goals while contributing to a resilient energy future—a mission the EIB is proud to support.”

Christian Nickels-Teske, Prologis Senior Vice President and Head of Treasury Europe & Capital Markets, shared the company’s vision: “We are excited to partner with the European Investment Bank on this critical initiative, which not only aligns with our goal of achieving net-zero emissions by 2040 but also supports renewable energy adoption across Europe. This framework loan underscores our commitment to our customers, sustainability, and enhancing Europe’s energy resilience.”

Through this investment, Prologis reinforces its leadership in sustainability, paving the way for cleaner, more resilient energy solutions in logistics real estate.

Background information:

The European Investment Bank (EIB) is the EU institution for long-term loans. Its shares are held by the 27 EU Member States, with 5.2% owned by Belgium. The EIB makes long-term financing available for sound investments that contribute towards the EU’s policy objectives. In 2023 the EIB provided over €2.1 billion in financing for Belgian projects.

Prologis is a logistics real estate company headquartered in the United States with operations across 12 countries in Europe.

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SOURCE: European Investment Bank