The project concerns the financing of the Promoter’s 6-year investment programme in 61 different hydropower schemes that can be grouped in four main types of interventions: (i) 29 interventions to exploit the release of the minimum downstream environmental water flow; (ii) 17 new interventions to produce electricity through the utilisation of existing water transfers between two or more different hydropower schemes (iii) 11 revamped sites to improve security and operation in general and (iv) four new hydropower plants.
Most of the hydropower plants will be located in Northern Italy (31 plants), followed by 20 plants in Central Italy and 10 plants in Southern Italy. The Promoter has a hydropower portfolio of 200 plants across Italy.
The development of hydropower supports national and European targets related to renewable energy production and thus contributes to climate change and security of energy supply objectives of the EU. Some of the power plants will be developed in areas of Southern Italy which are eligible under the objective of EU convergence.
The project concerns installations for hydroelectric energy production without large water storage (below 10 million m3), which fall under Annex II of Directive 2011/92/EU leaving the decision of whether an EIA is required to the national environmental authority. The Bank will review the EIAs, permits and environmental management processes during appraisal, including mitigation/compensation measures to be taken and any effects on nature conservation sites.
The Promoter is a public undertaking and therefore is subject to the EU Procurement Directive. 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 (i.e. Directive 2014/25/EU) 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.
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