COMPAGNIA VALDOSTANA ENERGIA&AMBIENTE

The project concerns an investment programme focused on the rehabilitation and repowering of existing hydroelectric plants and dams, the construction of new hydropower plants all located in the Val d’Aosta Region and a new photovoltaic plant located in the Piedmont Region.

By improving the reliability and increasing the capacity of existing hydropower plants, the project will improve the security of electricity supply, improve the efficiency of generation dispatch in the electricity system and help meet growing peak demand. Therefore the project supports national and EU renewable energy objectives. In addition, it supports Italy in meeting its commitments with respect to greenhouse gas emissions reductions.

As the operation concerns a portfolio of projects with a varying degree of environmental impacts, the Bank will review the EIA and permitting procedures carried out. Hydroelectric facilities involving dams with new or additional storage capacity in excess of 10 million cubic metres fall under Annex I of the EU EIA Directive (85/337/EC as amended) and therefore require a full EIA. Other hydro plants and photovoltaic plants fall under Annex II of the aforementioned Directive leaving it to the national environmental authority to determine whether or not an EIA is required.

The promoter is a contracting authority as defined in the EU Procurement Directive (2004/17/EC). Compliance with this directive, including publication in the Official Journal of the EU, will be required by the Bank.