Release date: 8 September 2014
Promoter – Financial Intermediary
Electricité de FranceLocation
Description
The project comprises two major hydropower investments by EDF in France in the 2013-2018 period: (i) the "RenouvEau" investment programme for the modernisation of existing hydropower facilities to increase capacity and integrate information technology; and (ii) the 93MW Romanche-Gavet hydropower project consisting of the replacement of six surface plants by a single underground facility to be built and operated under a 60-year concession.
Objectives
The development of hydropower supports national and European targets related to renewable energy production and thus contributes to climate change and security of energy supply objectives of the EU. The project is therefore eligible under Article 309 (c) common interest in energy (renewable energy) and also contributes to the environmental protection (tackling climate change). The project is in line with the Bank's priority objectives for energy sector lending in the EU related to renewable energy sources.
Comments
None.
Sector(s)
Proposed EIB finance (Approximate amount)
EUR 500 million
Total cost (Approximate amount)
EUR 1000 million
Environmental aspects
The project concerns installations for hydroelectric energy production, which fall under II of Directive 85/337 EEC (as amended) leaving it to the national environmental authority the decision of whether or not an Environmental and Social Impact Assessment (ESIA) is required. The Bank will review the ESIAs, permits and environmental management processes during appraisal, including mitigation/compensation measures to be taken and any effects on nature conservation sites.
Procurement
The Promoter is a public undertaking and therefore is subject to EU Procurement rules. The Bank will require the Promoter to ensure that contracts for the implementation of the project have been/shall be tendered in accordance with the relevant applicable EU procurement legislation (i.e. Dir 2004/17/EC), with publication of tender notices in the EU Official Journal, as and where required.
Status
Signed - 13/12/2016
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).