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Signature(s)

Amount
€ 140,000,000
Countries
Sector(s)
Spain : € 140,000,000
Energy : € 140,000,000
Signature date(s)
22/07/2010 : € 140,000,000
Link to source
Data sheet

Summary sheet

Release date
15 June 2009
Status
Reference
Signed | 22/07/2010
20090240
Project name
Promoter - financial intermediary
EDP Soto CCGT

EDP - Energias De Portugal, S.A.

Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
Estimated at EUR 140 million.
Estimated at EUR 280 million.
Location
Sector(s)
Description
Objectives

The proposed project consists in constructing and operating a 425 MWe Combined Cycle Gas Turbine (CCGT) unit Soto 5 of efficiency 58%. The unit will be built at Soto de Ribera, Asturias Province, in North West Spain, 8 km from Oviedo, on an established industrial site, next to the already operating similar generation facility Soto 4.

The project is located in a convergence (phasing out) region and, due to the deployment of advanced gas-fired combined cycle technology, will result in efficient electricity generation with lower environmental impact than coal/lignite power stations. It will contribute to meeting growing demand thus increasing energy security and diversify power generation at Iberian and European levels.

Environmental aspects
Procurement

Due to its capacity (plant over 300 MWth), the project is subject to the Annex 1 of the EIA Directive (85/337/EC and amendments) and was required to undergo a full Environmental Impact Assessment. The EIA covering both units Soto 4 (already commissioned) and Soto 5 was approved in December 2005 and a construction permit for both units was granted by the competent authority. The details of the EIA, results of public consultation and proposed mitigation measures as well as investment’s potential impact on nature conservation sites, will be reviewed during appraisal.

The project promoter has confirmed that it is subject to the EU legislation on procurement. The contract was announced in the OJEU dated 25/10/2002. Details of the procurement procedure will be fully investigated during appraisal.

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).

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Alternatively, the EIB can be contacted through its external offices.
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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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