OBERVERMUNTWERK

Promoter – Financial Intermediary

VORARLBERGER ILLWERKE AG

Location

• Austria

Description

The project comprises two pumped storage schemes, Obervermuntwerk II of 360 MW and Rellswerk with 13 MW, for hydroelectric power generation and storage, located in the valley of Montafon in the Austrian region of Vorarlberg, and required reinforcements of the substation in Bürs. The investment will add balancing capacity to the German power system and contribute to security of supply.

Objectives

The project will store electrical energy from the public grid by pumping water from a lower into an upper reservoir at times of reduced electricity demand and low prices. At times of high electricity demand and correspondingly high prices, the water will be released back to the lower reservoir to drive turbines and generate electricity. The project will contribute to covering peak demand as well as to providing ancillary services in the integrated European Grid system.

Sector(s)

• Energy

Proposed EIB finance (Approximate amount)

EUR 280 million

Total cost (Approximate amount)

EUR 566 million

Environmental aspects

The project is an expansion of an existing hydroelectric power generation plant. The project falls under Annex II of the EIA Directive 2011/92/EU. Here, the competent authority in line with Austrian environmental law (UVP-G 2000) requested an Environmental Impact Assessment (EIA) including public consultation. The environmental permit was granted by the Supreme Administrative Court in Austria in January 2014, with no further appeal.

Procurement

The European Commission has exempted the generation of electricity in Austria from public procurement provisions by Decision 2008/585/EC.

Status

Signed - 24/06/2014