Cascais Próxima, a municipal company in Cascais, responsible for managing mobility, urban spaces and energy in the municipality, and BPI bank signed a Green Loan in the amount of 4.5 million euros, with a term of 10 years.

The loan is intended to finance the design and construction of a production and refueling station for hydrogen-powered vehicles (“Hydrogen Refueling Station”).

The investment and financing will have environmental sustainability concerns and objectives, in line with the strategy defined by the municipality and, for the sector, by BPI, reinforcing its role as a reference financier through the adoption of innovative solutions based on principles of sustainability.

The loan was fully organized, assembled and underwritten by BPI and complies with the “Green Loan Principles” established by the “Loan Market Association” (LMA).

In a press release, it is clarified that Cascais Próxima “manages a fleet of hydrogen-powered buses and with this investment it will promote self-sufficiency in the production and supply process of ‘Green’ fuel, with capacity still available for sale to third parties”.

“BPI and the CaixaBank Group are absolutely committed to supporting, through their sustainable financing activity, environmentally friendly initiatives and projects that contribute to preventing, mitigating and responding to climate change and the transition for a low-carbon economy.”

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