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        VERBUND PSP LIMBERG II

        Signature(s)

        Amount
        € 240,000,000
        Countries
        Sector(s)
        Austria : € 240,000,000
        Energy : € 240,000,000
        Signature date(s)
        5/03/2008 : € 40,000,000
        20/03/2007 : € 200,000,000

        Summary sheet

        Release date
        8 May 2006
        Status
        Reference
        Signed | 20/03/2007
        20050388
        Project name
        Promoter - financial intermediary
        Verbund PSP Limberg II
        Oesterreichische Elektrizitätswirtschafts AG.
        Proposed EIB finance (Approximate amount)
        Total cost (Approximate amount)
        EUR 180 million.
        EUR 365 million. Subject to confirmation/change during project appraisal.
        Location
        Sector(s)
        Description
        Objectives

        The project consists of the construction and operation of a pumped storage power plant near Kaprun in the Austrian Alps. The plant will share the two existing hydro reservoirs built in the 1950s with the Kaprun 300 MW pumped storage scheme existing since then.

        The project will contribute to the requirements for peak power as well as electricity balancing and regulation in the countries covered by the integrated European grid system of the UCTE. This contributes to the balancing of demand and supply and the stability of the grid systems and thus to the security of power supply and the management and rational use of energy in the EU.

        Environmental aspects
        Procurement

        Compliance with EU Directive 97/11/EC, amending 85/337/EEC, will be verified during appraisal and the status of any environmental studies and public consultations will be reviewed.

        The promoter is required to respect national and European legislation applicable to public authorities procurement (Directive 2004/17/EC).

        Comments

        Art 267 a) energy projects of common interest.

        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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