IREN ELECTRICITY DISTRIBUTION NETWORKS

Promoter – Financial Intermediary

IRETI SPA

Location

• Italy

Description

The investment programme to be co-financed by the Bank comprises schemes for the development of the electricity distribution network of the promoter in Turin and Parma, Italy and surrounding areas, during the period 2017–2020. The promoter has a concession for electricity distribution in the cities of Parma and Turin where it serves approximately 684,000 end users. The investment programme focuses on the construction of new distribution assets as well as the refurbishment and upgrade of existing assets.

Objectives

The programme will enable the promoter to cater for demand growth, connect new users, improve the reliability and quality of electricity supply as well as meet new technical requirements and regulatory obligations on deployment of advanced meters.

Sector(s)

• Energy

Proposed EIB finance (Approximate amount)

EUR 60 million

Total cost (Approximate amount)

EUR 123 million

Environmental aspects

Some programme schemes may fall under Annex II of the Environmental Impact Assessment (EIA) Directive 2011/92/EU thus requiring a review by the competent authorities at planning/consent stage with due regard to the need for environmental and biodiversity assessments. The borrower's capacity and procedures to ensure compliance with environmental and biodiversity regulations will be reviewed during appraisal as well as the possibility of impact on sites of nature conservation.

Procurement

The Bank will require the borrower to ensure that contracts for the implementation of the programme are tendered in accordance with the relevant applicable EU procurement legislation, Directive 2014/25/EU where applicable, as well as Directive 92/13/EEC and Directive 89/665/EEC as interpreted by the Court of Justice of the EU, with publication of tender notices in the Official Journal of the EU, as and where required.

Status

Signed - 28/03/2017