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Signature(s)

Amount
€ 200,000,000
Countries
Sector(s)
Italy : € 200,000,000
Energy : € 200,000,000
Signature date(s)
4/09/2008 : € 200,000,000
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Summary sheet

Release date
1 September 2006
Status
Reference
Signed | 04/09/2008
20060135
Project name
Promoter - financial intermediary
AEM Milano Risparmio Energetico
AEM S.p.A., Milan’s municipal electricity, gas and district heating company.
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
Up to EUR 200 million.
About EUR 400 million.
Location
Sector(s)
Description
Objectives

The project comprises a 3-year programme of investments for the upgrade and expansion of electricity, gas and district heating networks and involves the replacement and reinforcement of mainly underground distribution assets throughout the city of Milan and surrounding areas.

The proposed investments are aimed at reducing losses and improving the safety and reliability of gas, heating and electricity supply networks allowing significant energy savings and, as an additional benefit, improving compliance to meet new environmental and technical standards. Furthermore, they will allow the replacement of older equipment and an increase in network capacity required for new connections.

Environmental aspects
Procurement

By virtue of their technical characteristics, project schemes fall under Annex II of the Environmental Directive 85/337/EEC (as amended by 97/11/EC), leaving it to the regional competent authority to decide whether an EIA would be required. Given that investments comprise the upgrade and expansion of existing distribution networks in urban areas, it is unlikely that any of the sub-projects of the promoter’s investment programme would require EIAs or affect sites of special interest (Natura 2000 sites): this aspect will be confirmed during appraisal. Overall, the environmental impact will be mainly limited to physical disruption of underground construction works.

The Bank will require the Promoter to ensure that contracts for the implementation of the project have been/shall be tendered in accordance with the relevant applicable EU procurement legislation (Dir 93/38/EEC as amended by Dir 2004/17/EC) with parallel publication of tender notices in the Official Journal of the EU as and where appropriate. AEM’s procurement procedures will be further evaluated during appraisal including OJEU notices for the project components and national compliance with EU Directives.

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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).

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 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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