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EDA POWER VII

Signature(s)

Amount
€ 73,000,000
Countries
Sector(s)
Portugal : € 73,000,000
Energy : € 73,000,000
Signature date(s)
17/12/2009 : € 27,000,000
22/11/2007 : € 46,000,000
Link to source
Data sheet
EDA POWER VII
Other links
Summary sheet
EDA Power VII

Summary sheet

Release date
8 March 2007
Status
Reference
Signed | 22/11/2007
20060388
Project name
Promoter - financial intermediary
EDA Power VII
Electricidade dos Açores - EDA S.A.
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
Up to 50% of total project cost.
Estimated at EUR 140 million.
Location
Sector(s)
Description
Objectives

Design and implementation of additional electricity generation, transmission and distribution capacity. The investments will be located in all nine of the islands making up the Archipelago of the Azores.

To meet the expected increase in electricity demand through appropriate increases in plant capacity and strengthening of transmission and distribution networks.

Environmental aspects
Procurement

By virtue of their technical characteristics, the project sub-schemes fall under Annex II of Directive 85/337/EC amended by 97/11/EC and 2003/35/EC. Thus, they would be subject to an EIA based on a case-by-case decision or defined criteria set by the competent authorities. The project is expected to have a positive effect on the environment through the use of new, more efficient generation units replacing older ones. Details will be analysed during appraisal.

Procurement procedures are in compliance with relevant EU directives and national and regional legislation.

Link to source
Summary sheet
EDA Power VII
Other links
Data sheet
EDA POWER VII

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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