La Boga II Wind Power Project

Promoter – Financial Intermediary

Energia y Recursos Ambientales & Grupo Inverduero

Location

• Spain

Description

The three wind farm sub-projects composing La Boga II are located in the autonomous region of Castilla y León, a convergence region of Spain.

 

Objectives

The development of renewable energy sources is a priority of the EU. The EU Council adopted a binding target of 20% share of renewable energies in overall EU energy consumption by 2020 and the project contributes to this objective. The development of renewable energy contributes to several key objectives of the EU: security of supply, environment, particularly fight against climate change and international competitiveness (to put EU industry at the forefront of the rapidly growing low-carbon technology sector). Additionally, the investments included in the operation are located in a “Growth effect region (phasing in)”.

Sector(s)

• Energy

Proposed EIB finance (Approximate amount)

Up to EUR 100 million.

Total cost (Approximate amount)

Estimated to be around EUR 200 million.

Environmental aspects

The wind farms fall under Annex II of Directive 85/337/EC, as amended by Directives 97/11/EC and 2003/35/EC. Part or all of the project’s wind farms may therefore be subject to an EIA. The details of the environmental procedures followed, the results of EIAs and public consultation (if applicable), and the mitigating measures to be applied, will be reviewed during appraisal.

Procurement

The promoter is not subject to EU Procurement Directives. In line with its principles and its statute the Bank will however ensure that suitable procurement procedures, including an appropriate selection of works, goods and services offered at competitive prices, will be applied by the promoter and/or the special purpose companies. Details will be verified during appraisal.

Status

Signed - 21/07/2011