Search En menu en ClientConnect
Search
Results
Top 5 search results See all results Advanced search
Top searches
Most visited pages

Signature(s)

Amount
€ 85,000,000
Countries
Sector(s)
Portugal : € 85,000,000
Energy : € 85,000,000
Signature date(s)
10/03/2010 : € 85,000,000
Link to source
Data sheet

Summary sheet

Release date
16 June 2009
Status
Reference
Signed | 10/03/2010
20080498
Project name
Promoter - financial intermediary
PORTUCEL Energy

Portucel – Empresa Produtora de Pasta e Papel

Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 85 million.
Currently estimated at EUR 176 million.
Location
Sector(s)
Description
Objectives

The project comprises the design, construction and operation of four energy facilities -a natural gas CHP, two biomass plants and a steam turbine- at three different pulp and paper production facilities owned by the promoter in Portugal (Setubal, Cacia and Figueira de Foz). All four investments,are located in pulp and paper production sites owned by the promoter. The energy production will be either consumed by the pulp and paper facilities or sold to the public grid. The biomass supply for Cacia and Setubal consists mainly of wood residues coming from forestry operations run by the promoter.

The project’s economic interest is linked to its contribution to EU and national renewable energy and climate change policies, and to increasing energy efficiency (co-generation of power and heat). Further, the project sites of Cacia and Figueira da Foz, accounting for approximately one third of the total investment, are located in convergence regions. The project contributes to the priority energy lending objectives related to renewable energy and energy efficiency.

Environmental aspects
Procurement

By virtue of their technical characteristics all the projects fall under Annex II of the EIA Directive, therefore the need for EIA is established by the competent authority according to the criteria set out in the Directive and in the national law. According to national law, EIA is required only for the natural gas CHP in Setubal. The promoter has carried out EIA and the foreseen environmental impacts are limited. Full review of the EIA will be performed by the Bank during appraisal.

The promoter is not bound to public procurement procedures. During the appraisal, the Bank will verify that suitable procurement procedures in line with the Bank’s standards have in any case been adopted.

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).

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.

Related publications