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Signature(s)

Amount
€ 300,000,000
Countries
Sector(s)
Spain : € 300,000,000
Energy : € 300,000,000
Signature date(s)
9/07/2007 : € 75,000,000
30/07/2009 : € 100,000,000
23/12/2008 : € 125,000,000
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Summary sheet

Release date
28 June 2006
Status
Reference
Signed | 09/07/2007
20040022
Project name
Promoter - financial intermediary
Red Electrica de España V (TEN)
Red Eléctrica de España, S.A.
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
Up to 35% of project cost.
Approximately EUR 870 million.
Location
Sector(s)
Description
Objectives

The project forms part of the promoter’s multi-annual rolling capital investment program in the high-voltage (HV) power network (400 kV down to 132 kV) of Spain, comprising multiple schemes including investment earmarked as energy TEN, which will be implemented over a three-year period (2006-2008). The schemes are geographically dispersed over the country.

The project aims at extending and reinforcing the national transmission system based on the 2002-2011 Spanish national energy plan and its revision published in 2005. It will increase capacity to meet electricity demand growth, and improve the quality and reliability of electricity supply to consumers located mostly in the objective 1 and objective 2 regions.

Environmental aspects
Procurement

The project schemes consist of components such as substations, overhead lines and underground cables. Thus, a part of the project elements may fall by virtue of their technical characteristics (voltage level, length of power line etc.) either under Annex I or Annex II of the EIA-Directive (97/11/EC). It is expected that the environmental impact of the project is mainly visual and that the limits on electromagnetic fields set by national legislation (and in line with EU recommendations) will be respected. The Bank has assessed the promoter’s environmental procedures recently and found them to be adequate. However, during appraisal the current procedures, including results for any scheme requiring a formal EIA, and mitigating measures to be applied will be reviewed. This will include the potential effect on nature conservation sites.

The promoter follows EU public procurement procedures in line with the Utilities Directive 93/38/EEC pending transposition of 2004/17/EC into national law.

Comments

Electricity

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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).

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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.
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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 Fraud and Investigation division. All complaints will be treated as strictly confidential and handled in line with the EIB investigation procedures and the Anti-Fraud Policy.

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