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    Signature(s)

    Amount
    € 50,000,000
    Countries
    Sector(s)
    Portugal : € 50,000,000
    Energy : € 50,000,000
    Signature date(s)
    15/10/2008 : € 50,000,000

    Summary sheet

    Release date
    11 April 2008
    Status
    Reference
    Signed | 15/10/2008
    20080052
    Project name
    Promoter - financial intermediary
    Co-Geração Refinaria do Porto

    The promoter is engaged in the exploration, production, refining and distribution of petroleum products, the supply and distribution of natural gas and the generation of electric and thermal energy.

    Proposed EIB finance (Approximate amount)
    Total cost (Approximate amount)
    Up to 50% of the project cost.
    To be determined.
    Location
    Sector(s)
    Description
    Objectives

    The project involves the studies, design, construction, commissioning and operation of a natural gas fired industrial cogeneration plant located on the premises of a refinery. The cogeneration plant of 82 MW will satisfy the process steam and electricity demand of the refinery’s processing facilities. Surplus electricity can be exported to the national high voltage network. The plant will produce some 670 GWh of electricity and 2.2 million ton of steam per year.

    Replacement of existing heavy fuel-oil fired power and heat generators to raise the efficiency of the energy conversion and achieve compliance with the Large Combustion Plant Directive by reducing emissions of SO2, NOx and particulates.

    Environmental aspects
    Procurement

    The EIA has been carried out for the project in 2007. The study did not find impacts that are unacceptable or that cannot be mitigated appropriately. Fuel switch from heavy oil to gas and deployment of highly energy efficient conversion technology will result in lower specific CO2 emissions from the planned installation in relation to the existing situation.

    A “Notice of the existence of a qualification system” concerning the cogeneration project in the Porto refinery has been published in OJEC 2007/S 133-163800 on 13/07/2007.

    Disclaimer

    Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
    They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

    General enquiries and comments

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    Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
    Alternatively, the EIB can be contacted through its external offices.
    Queries regarding details of a specific project, in particular when it is under appraisal by the EIB, should preferably be addressed directly to project promoters.

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    The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Investigations Division. All reports will be treated as strictly confidential and handled in line with EIB investigation procedures and the EIB Group Anti-Fraud Policy.

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