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Signature(s)

Amount
€ 24,500,000
Countries
Sector(s)
Fiji : € 24,500,000
Energy : € 24,500,000
Signature date(s)
28/11/2006 : € 24,500,000
Link to source

Summary sheet

Release date
22 November 2006
Status
Reference
Signed | 28/11/2006
20050592
Project name
Promoter - financial intermediary
Fiji Power
Sustainable Energy Limited (SEL)
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 24.50 million.
EUR 49.10 million.
Location
Sector(s)
Description
Objectives

The proposed project will increase Fiji’s power generation capacity and reduce fuel costs by replacing oil-fired power with a new run-of-river hydro power plant. The project comprises a build, own and operate 38 MW hydropower plant and is part of a larger investment plan in which the Asian Development Bank (ADB) is financing the expansion of transmission and distribution facilities and the World Bank (WB) as well as the EIB (the Bank) will each be supporting individual generation projects.

The project is in line with European and Bank policy objectives to encourage renewable energy generation, where the environmental impacts are lower than fossil fuel supply alternatives. In addition, the project will facilitate the economic development of Fiji by ensuring a consistent power supply and by reducing reliance on highly priced imported fossil fuels. The project falls under the scope of the environmental and economic development goals of the Cotonou Mandate.

Environmental aspects
Procurement

According to its technical characteristics the project falls under Annex II of Directive 97/11/EC on Environmental Impact Assessment (EIA) if located within the EU, leaving it to the competent national authority to determine the requirement for an EIA. The competent authority, the Department of Environment has granted all environmental approvals to allow the scheme to proceed.

The promoter has agreed to comply with the Bank’s procurement guidelines.

Link to source
Summary sheet

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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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.

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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.

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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 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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