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Signature(s)

Amount
€ 200,000,000
Countries
Sector(s)
Italy : € 200,000,000
Energy : € 200,000,000
Signature date(s)
6/12/2006 : € 200,000,000
Link to source

Summary sheet

Release date
21 October 2005
Status
Reference
Signed | 06/12/2006
20050109
Project name
Promoter - financial intermediary
Calabria Produzione Energia
Eurosviluppo Elettrica S.p.A., a special purpose project vehicle owned jointly by a Spanish electricity company and an Italian multi-utility company
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
Up to EUR 200 million.
The project cost is expected to be in the region of EUR 400 million.
Location
Sector(s)
Description
Objectives

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.

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.

Environmental aspects
Procurement

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.

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.

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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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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