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    Signature(s)

    Amount
    € 145,000,000
    Countries
    Sector(s)
    Portugal : € 145,000,000
    Energy : € 145,000,000
    Signature date(s)
    4/02/2009 : € 145,000,000

    Summary sheet

    Release date
    25 July 2008
    Status
    Reference
    Signed | 04/02/2009
    20080222
    Project name
    Promoter - financial intermediary
    EDP Repowering
    EDP - Energias de Portugal, S.A.
    Proposed EIB finance (Approximate amount)
    Total cost (Approximate amount)
    Estimated at EUR 150 million.
    Estimated at EUR 300 million.
    Location
    Sector(s)
    Description
    Objectives

    The project consists of the re-powering of two existing run-of-the-river hydro-plants along the River Douro, in Portugal, through the construction of new underground generators, which will increase the capacity of both plants by around 440MW.

    To expand electricity generation from renewable sources, contributing to several key EU objectives: security of supply, fight against climate change and raise competitiveness.

    Environmental aspects
    Procurement

    Both hydro plants fall under Annex II of Directive 85/337/EC, as amended by Directives 97/11/EC and 2003/35/EC. Thus, the project sub-schemes would be subject to an EIA based on a case-by-case decision or defined criteria set by the competent authorities. The promoter has confirmed that EIAs have been completed. Neither water storage nor river flow parameters are expected to be modified by the project.

    The promoter is required to tender works, supplies and services contracts following procurement rules of relevant national and EU legislation, as defined by procurement Directive 93/38/EEC and amended by Utilities Directive 2004/17/EC, including the publication in Official Journal of EC where appropriate. Detailed procedures applied by the promoter will be reviewed during the appraisal.

    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.

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    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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