The Xunta will grant loans of up to five million to small and medium-sized enterprises that decide to distribute the funds of the just transition

Of the almost 869 million that Europe has allocated to Spain to help finance its industrial and energy transformation to be aligned with Community objectives in the fight against climate change — the so-called Just Transition Fund —, Galicia corresponds to a total of 111.38 million, which corresponds to 12.82% of the total number. All for the province of A Coruña, the only one where coal-fired power plants are being built: Meirama and As Pontes.

The first is already history. Only the boiler house remains, which, according to the plans of Naturgy, its owner, will be demolished by the end of the year. As for the As Pontes station, it will be operational until at least the end of September, after Endesa extended the contracts that expired on June 30 for its subcontractors, as well as the forecast that returned staff will remain in the facilities.

Another seven provinces (Palencia, León, Cádiz, Córdoba, Almería, Asturias and Teruel) share the rest of the 869 million once approved by Brussels.

And the Xunte Council will give the green light this Friday for an instrument designed to send money to projects represented by businesses in the community in order to get these funds. It will do this through loans. And part of that help will be non-refundable.

Two lines

There are two lines that the autonomous government has articulated for distribution. One is intended for small and medium-sized enterprises (SMEs), and the other will be intended for large ones. In the first case, the loans are aimed at financing projects that include the creation, diversification, modernization or conversion of business, as well as the acquisition of closed facilities.

Investments that will cover

Among the investments that These loans will cover land (with a limit of 10% of the total investment), capital goods or computer applications. The loan amount will be between 100,000 and 5 million euros, with a limit of 70 percent of the investment. Of the loans they receive, there is a part that they will not have to pay back, specifically up to 35%, in the case of small entrepreneurs; and up to 25%, in the case of the median. WITH This money can cover the consulting and audit costs that the project entails.with up to 20,000 euros and the limitation, of course, of the cost that this entails.

In the case of large companies, the loan amount could range between one and ten million euros, with the same limit as for small and medium-sized companies: 70% of the investment. The investments that will be financed are also the same, with the exception that larger companies will not be able to allocate money for financing actions aimed at increasing production capacity, only those that include a new activity, different from the one they are already performing. Consulting and auditing costs are not covered. In addition, the projects they present will have to go through Brussels in order to be given the green light by the community authorities. And they won’t have to pay back 15% of the money they get. In both cases, the support is linked to the creation of jobs and when points are added for access to them, they will be counted as stable jobs and also targeted at groups that are considered a priority: the unemployed affected by the dismantling of power plants, under 30 years of age, older than 45 years, people with disabilities and women.

up to twelve years

Loans are granted for a period of up to 12 years, with a grace period required for each project. AND fixed interest rate which will be Euribor plus the difference which will be determined according to the risk and the guarantees provided.