Unterzeichnung(en)
Übersicht
- Energie - Energieversorgung
Extension and modernisation of the City of Hamburg's municipal electricity distribution network in the years 2025 to 2029.
The investment programme will include the renovation, reinforcement and extension of high, medium and low voltage electricity distribution infrastructure (overhead lines, underground cables, substations), and the renovation and digitalisation of network control systems.
The Project helps fill the growing investment gap in European electricity grid infrastructure, which is needed to support the European Energy Transition, as identified, among on others, in the EU Clean Industrial Deal, the EU Affordable Energy Action Plan, and the EU Grid Action Plan.
The promoter's CAPEX plan includes investments in electricity distribution. The Project will contribute to maintaining or increasing security of supply in the context of growing electricity demand, from heating and mobility in particular, and growing integration of electricity production from RES.
The Project is expected to contribute to Bank's lending priority objectives on Climate Action and Environmental Sustainability and it aligns with the REPowerEU objectives. The financing of the Project will contribute to the Bank's Energy Lending Policy themes on Securing the Enabling Infrastructure (energy networks).
The operation addresses a number of market failures, including increasing security of energy supply, and the integration of low-carbon generation, which reduces carbon emissions and air pollution, with positive climate and health externalities.
The Project is expected to deliver excellent economic benefits and excellent social benefits. The Promoter is experienced in works of this nature and has a sound project management system in place.
The Bank supports the Project's financial viability with a significant loan under REPowerEU, covering around 28% of the Promoter's EUR 3.6bn investment plan through 2029. The loan offers flexible terms and a long tenor, along with interest rate revisions and fixed-rate options.
This baseline financing helps the Promoter attract the remaining funds from commercial banks or other investors.
Some schemes may fall under Annex II of the EIA Directive 2011/92/EU as amended by Directive 2014/52/EU, which requires the competent national authority to determine the need for an environmental impact assessment (EIA). The exact requirements, as well as, where and if applicable, the requirements of Birds Directive 2009/147/EC and Habitats Directive 92/43/EEC, will be verified during appraisal. The schemes are expected to have limited environmental impact. The environmental and social due diligence will follow the programme lending approach according to the EIB's standards. It will focus on the Promoter's capacity to implement the programme in line with the EIB environmental and social standards and requirements. The project is expected to contribute to climate action and environmental sustainability (CA&ES) objectives, in particular to climate mitigation.
The Bank will require the promoter to ensure that contracts for implementation of the project will be tendered in accordance with the applicable EU procurement legislation, Directive 2014/23/EU / 2014/24/EU / 2014/25/EU as well as Directive 92/13/EEC or Directive 89/665/EEC as interpreted by the Court of Justice of the EU, with publication of tender notices in the EU Official Journal, as and where required.