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Signature(s)

Amount
€ 129,000,000
Countries
Sector(s)
Spain : € 129,000,000
Energy : € 129,000,000
Signature date(s)
21/09/2012 : € 19,000,000
23/12/2008 : € 55,000,000
23/12/2008 : € 55,000,000
Link to source

Summary sheet

Release date
23 April 2008
Status
Reference
Signed | 23/12/2008
20070384
Project name
Promoter - financial intermediary
Solnova 1 & 3 Concentrated Solar Power
Abengoa Solar Espana S.A.
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
The EIB funding would represent up to 50% of project cost (to be confirmed).
The cost of the project is estimated by the promoter at EUR 500 million.
Location
Sector(s)
Description
Objectives

Abengoa Solar España S.A. has requested the Bank to part finance a project composed of two 50 MW Concentrated Solar Power Plants. The project will be part of the Solucar platform, with projected 300 Mwe of power generating capacity from solar resources.

The development of renewable energy will support national targets for renewable energy generation and contribute to environmental improvement and security of energy supply objectives. Electricity generation from concentrated solar power will displace fossil fuel-fired generation and the associated emissions of greenhouse gases and other emissions (SO2, NOx). The project is therefore eligible under Article 267 (c) energy sources of common interest / environment including climate change. The project supports the Bank's priority energy lending objectives concerning renewable energy.

Environmental aspects
Procurement

All project components will need environmental assessments as required in the EIA Directive 85/337/EC and amendments of 1997 and 2003. By their technical characteristics all components do fall under Annex I or II of the directive.

 

Investments are subject to the procurement procedures as defined in Directive 2004/17/EC for entities operating in the water, energy, transport and postal services sector.

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).

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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