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Signature(s)

Amount
€ 200,000,000
Countries
Sector(s)
Finland : € 90,000,000
Sweden : € 110,000,000
Solid waste : € 80,000,000
Energy : € 120,000,000
Signature date(s)
21/03/2011 : € 36,000,000
21/03/2011 : € 44,000,000
21/03/2011 : € 54,000,000
21/03/2011 : € 66,000,000
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Summary sheet

Release date
21 December 2010
Status
Reference
Signed | 21/03/2011
20100546
Project name
Promoter - financial intermediary
Fortum WTE and Smart Metering
Fortum Oyj, Espoo, Finland
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
Up to EUR 250 million
EUR 500 million
Description
Objectives

Construction of waste-to-energy CHP plants in Brista, Sweden and Klaipeda, Lithuania, and implementation of a digital remote metering infrastructure on the low voltage level in Finland.

Installation of remote meters will contribute to improve remote reading and demand side management, real time consumption information and differential pricing according to the systems load.

Construction of two waste fuelled CHP plants will contribute to diversion of waste from landfill disposal in line with EU targets, and will in the process reduce greenhouse gas emissions from landfills and improve security of energy supply.

Environmental aspects
Procurement

The project consists of installation of remote reading meters in Finland and implementation of new, efficient  waste-fuelled CHP power plants in Sweden and Lithuania. The projects are not expected to cause significant  negative impacts to Natura 2000 sites or to other sites of nature conservation importance. The project will  reduce the amount of waste that is landfilled and it will provide a waste recovery route instead of existing  disposal route. The project will furthermore provide incentives for energy conservation trough installation of  remote meter reading.

Based on the information that has been received, the procurement procedures applied by the promoter for the project schemes follow the requirements of EU legislation. The promoter has internal, binding guidelines in place and regularly publishes contract notices in the EU Official Journal in line with the applicable Directives. For the project schemes concerned, TED lists several related contract notices. The procurement processes of each scheme will be further examined during the appraisal.

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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 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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