Release date: 21 October 2005
Promoter – Financial Intermediary
Eurosviluppo Elettrica S.p.A., a special purpose project vehicle owned jointly by a Spanish electricity company and an Italian multi-utility companyLocation
Description
The project involves the design, construction, commissioning and operation of a large scale natural gas-fired co-generation plant comprising two identical CCGT units with a combined capacity of 800 MWe.
Objectives
The proposed project will install advanced power generation technology with a relatively low environmental impact; contribute to market liberalisation and facilitate decommissioning of old, inefficient and polluting oil-fired power stations elsewhere in Italy and/or reduce imports. Due to cogeneration the plant will have a high energy-conversion efficiency, which will contribute to the rational use of energy.
Sector(s)
Proposed EIB finance (Approximate amount)
Up to EUR 200 million.
Total cost (Approximate amount)
The project cost is expected to be in the region of EUR 400 million.
Environmental aspects
The project falls under Annex I of the EIA-Directive 97/11/EC requiring a full EIA. The permit was granted by the competent authority and has set out atmospheric emission limits which are in line with EU’s Large Combustion Plant Directive; indicating a relatively low level of pollution due to this modern type of CCGT and the use of natural gas. Concerning the “Habitats”-Directive 92/43/EEC and the Natura 2000 network, the permit indicates one Site of Community Importance (SIC, named “Foce del Neto”), situated at a distance of 13 km to the project’s location, for which the competent authority concluded in its permit that the investment is not expected to have a significant impact on the site.
Procurement
The plant will be built under a turn-key contract, for which the promoter has launched an international enquiry procedure on a competitive, restricted basis and sent out call for bids by the end of 2004 inviting several internationally known gas-turbine manufacturers to bid for the implementation of the project.
Status
Signed - 6/12/2006