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    Signature(s)

    Amount
    € 25,000,000
    Countries
    Sector(s)
    Finland : € 25,000,000
    Energetika : € 25,000,000
    Signature date(s)
    5/10/2005 : € 25,000,000
    Link to source

    Summary sheet

    Release date
    28 April 2005
    Status
    Reference
    Signed | 05/10/2005
    20040498
    Project name
    Promoter - financial intermediary
    Kemijoki Hydropower II
    Kemijoki Oy
    Proposed EIB finance (Approximate amount)
    Total cost (Approximate amount)
    Loan of up to EUR 70 million.
    EUR 140 million.
    Location
    Sector(s)
    Description
    Objectives

    The project forms part of the medium-term investment programme of Kemijoki, owner and operator of hydropower plants in Finland. The project consists of upgrading the turbines of several existing hydropower plants and building one new hydropower plant.

    The project will modernise, improve efficiency and increase generation capacity to meet growing electricity demand by using renewable energy resources.

    Environmental aspects
    Procurement

    The construction of the new power plant included in the project falls under Annex I of Directive 97/11/EC due to the size of the reservoir and thus requires a formal Environmental Impact Assesment (EIA). The upgrade and refurbishment of the existing hydropower plants falls under Annex II if they are considered to have a significant impact on the environment. Following a review of the project components the competent authority will screen each individual component to determine whether a formal EIA is required or not.

    The Promoter is bound by legislation to perform purchases according to the EU Procurement Directive 93/38/ECC, as transposed with the new Utilities Directive 2004/17/EC.

    Comments

    Article 267 c) energy projects of common interest, and a) economic and social cohesion.

    Link to source

    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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