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Signature(s)

Amount
€ 150,000,000
Countries
Sector(s)
Austria : € 150,000,000
Energy : € 150,000,000
Signature date(s)
12/11/2012 : € 150,000,000
Link to source

Summary sheet

Release date
3 April 2012
Status
Reference
Signed | 12/11/2012
20110368
Project name
Promoter - financial intermediary
VERBUND PSP REISSECK II
VERBUND AG
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 150 million
EUR 378 million
Location
Sector(s)
Description
Objectives

The project is a 430MW pumped storage scheme for hydroelectric power generation, located within the boundaries of the municipalities of Mühltal, Reisseck and Zandlach (Kärnten). It comprises new electricity generating equipment, an underground transmission cable, a new underground system of 5.3km long water tunnels, shafts, caverns, pump and turbine houses.

The project will link-in with the existing pumped storages Malta and Kreuzeck in the same area, which have at present a combined capacity of 1029MW. It makes use of existing reservoirs and takes advantage of their significant water volumes and elevation difference between water intake and discharge. As a result the project does not require new water reservoirs. Overall the project will allow for a more efficient use of water resources currently feeding the two existing storage schemes while significantly increasing the operational flexibility and electricity generation capacity in the regi

The project supports EU and national energy objectives

Environmental aspects
Procurement

The project is an expansion of two existing hydroelectric power generation schemes. The promoter has conducted an environmental impact assessment, which was approved by the national authorities in October 2009.

The European Commission has exempted the generation of electricity in Austria from public procurement provisions by Decision 2008/585/EC. The Bank will review the project’s procurement procedures to ensure that its funds are used appropriately for the purchase of works, goods and services.

Link to source

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).

Documents

Environmental and Social Data Sheet (ESDS) - VERBUND PSP REISSECK II
Publication Date
25 Sep 2015
Document language
Main Topic
Lending
Document Number
62124755
Document Focus
Environmental Information
Project Number
20110368
Sector(s)
Regions
Countries
Publicly available
Download now
Environmental and Social Completion Sheet (ESCS) - VERBUND PSP REISSECK II
Publication Date
1 Jan 2019
Document language
Main Topic
Lending
Document Number
78208966
Document Focus
Environmental Information
Project Number
20110368
Sector(s)
Regions
Countries
Publicly available
Download now

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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