VALECO - RENEWABLE ENERGY PROJECTS PORTFOLIO

Financing support to the Group Valeco for the construction and operation of a portfolio of eight wind farms and two solar photovoltaic (PV) power plants in France totalling 181MW. The ten wind farms and solar photovoltaic sub-projects are small or medium size, with capacities ranging from 10MW to 38MW. The portfolio is implemented based on proven technology.

The development of solar PV and wind power plants 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.

All sub-projects fall under Annex II of the EIA-Directive (2011/92/EU), requiring the competent authorities to determine whether an EIA is required. No resettlement of local population is envisaged. The project is located in rural and non-touristic areas. The Bank will review the environmental impact assessment (EIA), permits and environmental management processes during appraisal, including mitigation/compensation measures to be taken and any potential effects on nature conservation sites (Habitats Directive 92/43/EEC and Birds Directive 79/409/EEC).

The promoter has been assessed by the EIB as being a private company not operating in the utilities sector and not having a status of a contracting entity, thus not being subject to EU rules on public procurement. However, if after the project appraisal, the EIB were to conclude that the promoter is after all subject to EU public procurement legislation (i.e. Directive 2004/17/EC), then the Bank would require the promoter to ensure that contracts for the implementation of the project have been/will be tendered in accordance with the relevant applicable EU procurement legislation (Directive 2004/17/EC and Directive 92/13/EEC), with publication of tender notices in the Official Journal of the EU, as and where required.