FLUVIUS ENERGY TRANSITION INFRA

The project is an investment programme for electricity distribution grid infrastructure in the Flemish region of Belgium during the period 2022-2026.

The project will allow the Promoter to connect new users, including renewable generation as well, so as to maintain or improve the reliability and quality standards of electricity supply.

The Programme foresees the deployment of electricity network infrastructure to enable the energy transition. The Programme will support improved quality of service, reliability and security of supply that have public good attributes. The electricity network investments will contribute to addressing a number of market failures, allowing for the integration of renewable energy, which reduces negative climate and environmental externalities, and enabling increased electrification of the economy (transport, industry etc.). The Programme will contribute to achieving Belgium's 2030 decarbonisation targets set out in the National Energy and Climate Plan (NECP). In line with the EU Taxonomy, electricity grid infrastructure in Europe is considered eligible for climate change mitigation. The Programme is expected to deliver very good economic benefits and very good social benefits. The Promoter is experienced in works of this nature and has a sound project management system in place.

EIB's financing, at competitive and flexible terms for such long term senior lending, approved at the start of a more challenging regulatory period, is important in terms of diversification of funding sources and sends a strong signal to the capital markets on the confidence of the Bank in Fluvius and its contribution to the energy transition.

Some investments may fall under Annex II of Directive 2014/52/EU, amending the EIA Directive 2011/92/EU thus requiring a review by the competent authorities at the planning/consent stage with due regard to the necessity for environmental and biodiversity impact and appropriate assessments.

The Bank will require the Promoter to ensure that contracts for implementation of the project have been and shall be tendered in accordance with the applicable EU procurement legislation, Directive 2014/25/EU as well as Directive 92/13/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.