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    Signature(s)

    Amount
    € 100,000,000
    Countries
    Sector(s)
    Hungary : € 100,000,000
    Energy : € 100,000,000
    Signature date(s)
    12/12/2014 : € 100,000,000
    Link to source

    Summary sheet

    Release date
    13 December 2013
    Status
    Reference
    Signed | 12/12/2014
    20130348
    Project name
    Promoter - financial intermediary
    MVM ELECTRICITY AND GAS STORAGE
    MAVIR MAGYAR VILLAMOSENERGIA-IPARI ATVITELI RENDSZERIRANYITO ZRT
    MAGYAR FOLDGAZTAROLO ZRT
    Proposed EIB finance (Approximate amount)
    Total cost (Approximate amount)
    EUR 100 million
    EUR 203 million
    Location
    Sector(s)
    Description
    Objectives

    Reinforcement and extension of Hungary's electricity transmission network during 2013-2018 and reconstructure works on the underground gas storages.

    Economic and Social Cohesion (transversal)
    Competitive and Secure Energy (incl. TEN-E)

    Environmental aspects
    Procurement

    Some of the project schemes fall under Annex I of the EIA Directive 2011/92/EU, requiring an EIA. Other project schemes fall under Annex II; therefore the Competent Authority has to decide whether an EIA is required. The status and available results of the environmental impact studies and the authorisation processes as well as the actual impacts, including potential negative impacts on sites of importance of nature or cultural heritage conservation, and the planned mitigating and/or compensating measures will be reviewed during appraisal.

    The Bank will require the Promoter to ensure that contracts for the implementation of the project have been/shall be tendered in accordance with the relevant applicable EU procurement legislation 2004/17/EC and Dir. 2007/66/EC (amending Directives 1989/665/EEC and 1992/13/EEC), with publication of tender notices in the EU Official Journal, as and where required.

    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) - MVM ELECTRICITY AND GAS STORAGE
    Publication Date
    4 Jun 2014
    Document language
    Main Topic
    Lending
    Document Number
    53120639
    Document Focus
    Environmental Information
    Project Number
    20130348
    Sector(s)
    Regions
    Countries
    Publicly available
    Download now

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