Spanish Enagas takes transition finance initiative
The National Innovation Company (ENISA) and gas transmission system operator Enagas have signed an agreement to promote public-private financing of sustainable business projects, they said September 9. Enisa will advance loans in exchange for equity in projects.
"We are very proud to join the name of Enisa to that of Enagas and its subsidiary, Enagas Emprende, and thus start a path that is committed to supporting projects or companies that require our investment to start or continue their sustainable entrepreneurial activity," said Enisa on September 9.
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Enagas said the deal would enhance "Spanish competitiveness and the promotion of the energy transition, supporting start-ups and innovation projects, through the diversification of new business models such as biogas, hydrogen and sustainable mobility, among other areas, as well as access to disruptive technologies at an early stage.”
Enisa will analyse participatory loans to projects that they qualify. "The decision whether to approve each operation will be the responsibility of Enisa, in accordance with the provisions of the conditions, requirements and application procedures that regulate the management of the participatory loan," it said.
"The financing that Enisa offers to small and medium enterprises can contribute to increasing the competitiveness options of the innovation ecosystem," said Enagas.
Enisa will lend between €25,000 and €1.5mn, which does not require any guarantees other than those of the business project itself and a solvent management team.
Companies must have their registered office in Spain and present technically and economically viable business projects, as well as an innovative business model, novel or with clear competitive advantages.