WALLOON REGION ENERGY GRIDS UPGRADE (ORES)

The operation involves a EUR 550m loan to ORES, the distribution service operator for electricity and gas networks covering 75% of the Walloon region in Belgium. ORES will invest over EUR 1.15bn in the period 2018-2022 to upgrade and extend its gas and electricity networks.

In addition to maintaining current gas and electricity network security standards in compliance with the latest regulation, the project is expected to result in an overall increase of reliability and to enable the connection of additional renewable generation capacity. Eventually, the project is expected to contribute to growth and employment in the region.

The project includes facilities that fall under Annex II of the EIA Directive (2011/92/EU), which requires the competent national authority to determine the need for an Environmental Impact Assessment (EIA). The impacts that can be typically expected for some schemes relate to visual impact, impact on flying vertebrates, electromagnetic fields, noise nuisance, and disturbances during construction, as well as the possible impacts on protected fauna and flora (Habitats 92/43/EC and Birds 2009/147/EC).

The Bank will require the promoter to ensure that contracts for the implementation of the project will be tendered in accordance with the relevant applicable EU procurement legislation: Directives 2014/23/EU, 2014/24/EU and/or 2014/25/EU, where applicable, as well as Directives 92/13/EEC (amended 2007/66/EU) as interpreted by the Court of Justice of the EU, with publication of tender notices in the Official Journal of the EU, as and where required.