Ercros lands €20M green loan to cut Tarragona plant emissions 56%
What's the deal? Chemical group ErcrosDealroom has a profile for this one. Try Dealroom → has secured a €20 million ICF EcoVerda loan from the Institut Català de Finances (ICF) to fund decarbonisation at its Vila-seca I and Vila-seca II plants, part of its Tarragona Industrial Complex (CIT). The company aims to cut the complex's CO2 emissions by 56%.
What's the money for? The loan covers roughly 35% of a total €56.7 million investment. At Vila-seca I, Ercros will install an electric boiler to partly replace fossil-fuel heat systems; at Vila-seca II, it will add biomass-based steam generation and a residual heat recovery system.
Why now? The plants also plan to better use hydrogen produced during chlor-alkali manufacturing, reducing energy costs and fossil-fuel consumption. The project has separately drawn a €14 million grant from Spain's industrial decarbonisation PERTE programme.
By the numbers: Ercros's Tarragona complex employs 324 people, invoices €214.8 million, and exports about 43% of its output.
In their words: The ICF financing lets Ercros "accelerate a strategic project" and advance "towards a more efficient and competitive model," said chief financial officer Luis Rebelo da Silva.
The signal: As Europe pushes industrial decarbonisation, public promotional banks like the ICF — the Generalitat de Catalunya's lender — are underwriting the heavy capital costs. ICF chief executive officer Vanessa Servera framed the deal as proof "that sustainability is not a cost, but an opportunity to grow."
Read more: capital-riesgo.es
Image credit: James Allan
