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    Reference: 20170803
    Release date: 22 May 2018

    Promoter – Financial Intermediary

    OULUN ENERGIA OY

    Location

    Description

    The project consists of the financing of a Combined Heat and Power (CHP) biomass-fired plant in Finland of a capacity of 70 MWe (electric) and 175 MWth (heat and steam) to replace an existing solid fuel (peat and biomass) plant.

    Objectives

    The investment is done to meet the requirements of the Industrial Emissions Directive and the project is part of the Transitional National Plan by which the existing plant can continue operation until June 2020. The entire electricity produced by the plant will be cogenerated at high efficiency as defined by the EU directives.

    Sector(s)

    • Energy - Electricity, gas, steam and air conditioning supply

    Proposed EIB finance (Approximate amount)

    EUR 100 million

    Total cost (Approximate amount)

    EUR 202 million

    Environmental aspects

    With a thermal capacity below 300 MWth, the project does not fall under Annex 1 of the Environmental Impact Assessment (EIA) Directive 2014/52/EU which amends Directive 92/2011/EU, thereby, adhering to Annex 2 of the said Directive and Finnish EIA law, leaving it to the competent authority to decide if an EIA is required. However, the plant was initially planned at larger capacity with an integrated biorefinery and was screened by the competent authority. Thus, an EIA has been provided in January 2014. The project is also subject to the provisions of the Industrial Emissions Directive 2010/75/EU. A public consultation has taken place as part of the process but the environmental permit is pending.

    Procurement

    The promoter is a public undertaking in the utility sector that follows public procurement procedures as required by Directive 2014/25/EU. Procurement for the project has started with publications in the Official Journal of the European Union.

    Status

    Signed - 26/10/2018

    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).

    Related tags

    Finland Energy