Search En menu ClientConnect
Search
Results
Top 5 search results See all results Advanced search
Top searches
Most visited pages

    Signature(s)

    Amount
    € 280,000,000
    Countries
    Sector(s)
    Austria : € 280,000,000
    Energy : € 280,000,000
    Signature date(s)
    24/06/2014 : € 280,000,000

    Summary sheet

    Release date
    15 April 2014
    Status
    Reference
    Signed | 24/06/2014
    20140022
    Project name
    Promoter - financial intermediary
    OBERVERMUNTWERK
    VORARLBERGER ILLWERKE AG
    Proposed EIB finance (Approximate amount)
    Total cost (Approximate amount)
    EUR 280 million
    EUR 566 million
    Location
    Sector(s)
    Description
    Objectives

    The project comprises two pumped storage schemes, Obervermuntwerk II of 360 MW and Rellswerk with 13 MW, for hydroelectric power generation and storage, located in the valley of Montafon in the Austrian region of Vorarlberg, and required reinforcements of the substation in Bürs. The investment will add balancing capacity to the German power system and contribute to security of supply.

    The project will store electrical energy from the public grid by pumping water from a lower into an upper reservoir at times of reduced electricity demand and low prices. At times of high electricity demand and correspondingly high prices, the water will be released back to the lower reservoir to drive turbines and generate electricity. The project will contribute to covering peak demand as well as to providing ancillary services in the integrated European Grid system.

    Environmental aspects
    Procurement

    The project is an expansion of an existing hydroelectric power generation plant. The project falls under Annex II of the EIA Directive 2011/92/EU. Here, the competent authority in line with Austrian environmental law (UVP-G 2000) requested an Environmental Impact Assessment (EIA) including public consultation. The environmental permit was granted by the Supreme Administrative Court in Austria in January 2014, with no further appeal.

    The European Commission has exempted the generation of electricity in Austria from public procurement provisions by Decision 2008/585/EC.

    Disclaimer

    Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The data provided on this page is therefore indicative and cannot be considered to represent official EIB policy (see also the Explanatory notes).

    Documents

    Environmental and Social Data Sheet (ESDS) - OBERVERMUNTWERK
    Publication Date
    3 Jul 2014
    Document language
    Main Topic
    Lending
    Document Number
    51992310
    Document Focus
    Environmental Information
    Project Number
    20140022
    Sector(s)
    Regions
    Countries
    Publicly available
    Download now
    Non-Technical Summary (NTS) - OBERVERMUNTWERK
    Publication Date
    3 Apr 2014
    Document language
    Main Topic
    Lending
    Document Number
    52247559
    Document Focus
    Environmental Information
    Project Number
    20140022
    Sector(s)
    Regions
    Countries
    Publicly available
    Download now
    Non-Technical Summary (NTS) - OBERVERMUNTWERK
    Publication Date
    3 Apr 2014
    Document language
    Main Topic
    Lending
    Document Number
    52249158
    Document Focus
    Environmental Information
    Project Number
    20140022
    Sector(s)
    Regions
    Countries
    Publicly available
    Download now
    Environmental and Social Completion Sheet (ESCS) - OBERVERMUNTWERK
    Publication Date
    29 Dec 2020
    Document language
    Main Topic
    Lending
    Document Number
    135948238
    Document Focus
    Environmental Information
    Project Number
    20140022
    Sector(s)
    Regions
    Countries
    Publicly available
    Download now

    News & Stories

    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.

    Related publications