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Signature(s)

Amount
€ 200,000,000
Countries
Sector(s)
United Kingdom : € 60,000,000
Spain : € 140,000,000
Energy : € 200,000,000
Signature date(s)
14/10/2011 : € 60,000,000
14/10/2011 : € 140,000,000
Link to source
Data sheet

Summary sheet

Release date
11 May 2011
Status
Reference
Signed | 14/10/2011
20100439
Project name
Promoter - financial intermediary
Iberdrola R&D

Iberdrola SA

Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 200 million
EUR 400 million
Location
Sector(s)
Description
Objectives

Research and development investments (mainly in Spain and UK) in relation to networks, renewables, technological innovation and others.

The RDI programme of the promoter is targeting i) conventional energy generation, ii) energy transmission and distribution, iii) renewable energy as well as iv) energy systems. These RDI activities are aimed at generating additional welfare for the European consumers, since the project’s outcome should lead to i) reduced energy and renewable energy production and distribution costs, ii) increasing the European knowledge and technological base in renewable energy sources and technology as well as iii) improving the promoter’s environmental performance.

Environmental aspects
Procurement

The project concerns investments in research and development that are expected to be carried out in existing facilities already authorised, in which case an EIA would not be required by EIA Directive 85/337/EC, amended by Directives 97/11/EC and 2003/35/EC. The outcome of the R&D project is expected to have positive impact on the environment, improving the environmental performance of the promoter thought the deployment of renewable energies, efficient power generation as well as optimisation of the power distribution. However, the Bank’s services will verify details, and especially the ones related to the location of the R&D facilities, during the appraisal.

The promoter is a contracting entity and potentially falls under the Utilities Directive 2004/17/EC, in which case the promoter is required to tender works, supplies and services contracts following public procurement rules, including the publication in the Official Journal of the EU (OJEU) where appropriate. Details of the procedures applied by the promoter will be reviewed during the 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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Data sheet
Summary sheet

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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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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