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Signature(s)

Amount
€ 150,121,261.12
Countries
Sector(s)
Israel : € 150,121,261.12
Energy : € 150,121,261.12
Signature date(s)
26/06/2014 : € 150,121,261.12
Link to source

Summary sheet

Release date
27 May 2013
Status
Reference
Signed | 26/06/2014
20120677
Project name
Promoter - financial intermediary
MEGALIM SOLAR THERMAL PLANT
Megalim Solar Power Ltd.
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 150 million
EUR 600 million
Location
Sector(s)
Description
Objectives

Design, construction and operation of a solar thermal power plant with installed capacity of up to 121MW on a build-operate-transfer (BOT) basis. It will be located in the Western Negev Desert in Israel, 35km south of the city of Beer Sheva, on the area designated by the Israeli authorities as Plot B.

The project will emit significantly less gaseous and pollutant emissions, including greenhouse gases, than conventional thermal power plants. It will therefore contribute to EU and Israel national priority objectives with regard to combating climate change and supporting renewable energy. It is fully in line with the strategic objectives set for the EIB external mandate, as well as with the Bank's priority energy lending objectives related to renewable energy and external energy security and economic development. It will contribute substantially to the Mediterranean Solar Plan, and to the achievement of the Israeli national target of 10% of renewable energy capacity of the total electricity capacity by 2020.

Environmental aspects
Procurement

If the project were located in the EU, it would fall under Annex II of the Environmental Impact Assessment (EIA) Directive (85/337/EEC) as amended, requiring the competent national authority to determine the need for an EIA. Under Israeli Law, the project requires an EIA including initial scoping and public consultation, which was carried out and approved in Dec 2012. During appraisal, the Bank will ensure that the project complies with the Bank's principles and standards regarding environmental and social issues.

The promoter was selected following a formal international procedure, which attracted sufficient international interest. However, the project concession has a local preference element in accordance with Israeli law, requiring the promoter to procure domestically 20% of its investment. Based on the information available at this stage, the required local component seems to be below the level at which parts can naturally be sourced locally and at economic prices. The Bank will assess this in more detail during the appraisal with the objective of verifying whether the project will meet the Bank's criteria of economy and efficiency.

Comments

This operation is covered by the EU Political Risk Guarantee for EIB loans outside the EU.

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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).

Documents

Environmental and Social Data Sheet (ESDS) - MEGALIM SOLAR THERMAL PLANT
Publication Date
28 Jan 2014
Document language
Main Topic
Lending
Document Number
48052285
Document Focus
Environmental Information
Project Number
20120677
Sector(s)
Countries
Publicly available
Download now
Environmental and Social Impact Assessment (ESIA) - MEGALIM SOLAR THERMAL PLANT - Table of Contents
Publication Date
20 Sep 2016
Document language
Main Topic
Lending
Document Number
53219476
Document Focus
Environmental Information
Project Number
20120677
Sector(s)
Countries
Publicly available
Download now
Non-Technical Summary (NTS) - MEGALIM SOLAR THERMAL PLANT
Publication Date
17 Jun 2014
Document language
Main Topic
Lending
Document Number
53219898
Document Focus
Environmental Information
Project Number
20120677
Sector(s)
Countries
Publicly available
Download now
Environmental and Social Completion Sheet (ESCS) - MEGALIM SOLAR THERMAL PLANT
Publication Date
15 Dec 2020
Document language
Main Topic
Lending
Document Number
134287857
Document Focus
Environmental Information
Project Number
20120677
Sector(s)
Countries
Publicly available
Download now
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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.

Media enquiries

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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