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        EDA POWER VI

        Signature(s)

        Amount
        € 70,000,000
        Countries
        Sector(s)
        Portugal : € 70,000,000
        Energy : € 70,000,000
        Signature date(s)
        1/07/2005 : € 30,000,000
        18/12/2003 : € 40,000,000

        Summary sheet

        Release date
        1 October 2003
        Status
        Reference
        Signed | 18/12/2003
        20030307
        Project name
        Promoter - financial intermediary
        EDA Power VI
        Electricidade dos Açores – EDA SA
        Proposed EIB finance (Approximate amount)
        Total cost (Approximate amount)
        Up to 50% of total project cost
        Estimated at EUR 145 million
        Location
        Sector(s)
        Description
        Objectives

        Design and implementation of additional electricity generation, transmission and distribution capacity. The investments will be located in all nine of the islands making up the Archipelago of the Açores.

        To meet the expected increase in electricity demand through appropriate increases in plant capacity and strengthening of transmission and distribution networks.

        Environmental aspects
        Procurement

        The project falls under Annex II of EC Directive 97/11, which will be complied with in full. The project will have a positive effect on the environment through use of efficient generation plant and enhanced use of renewable energy resources.

        Procurement procedures are in compliance with relevant EU directives and national and regional legislation.

        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).

        General enquiries and comments

        The EIB is committed to open communication and encourages constructive stakeholder input regarding its activities.
        Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
        Alternatively, the EIB can be contacted through its external offices.
        Queries regarding details of a specific project, in particular when it is under appraisal by the EIB, should preferably be addressed directly to project promoters.

        Media enquiries

        Media-related enquiries can be addressed to the EIB Press Office. Please also visit our Media information section.

        Complaints mechanism

        Any complaint regarding alleged maladministration can be lodged via the EIB Complaints Mechanism. The European Ombudsman acts as an independent external accountability mechanism of the EIB.

        Zero tolerance against fraud and corruption

        The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Investigations Division. All reports will be treated as strictly confidential and handled in line with EIB investigation procedures and the EIB Group Anti-Fraud Policy.

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