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    Signature(s)

    Amount
    € 100,000,000
    Countries
    Sector(s)
    Finland : € 100,000,000
    Energy : € 100,000,000
    Signature date(s)
    11/12/2018 : € 100,000,000

    Summary sheet

    Release date
    12 June 2018
    Status
    Reference
    Signed | 11/12/2018
    20180250
    Project name
    Promoter - financial intermediary
    CARUNA DISTRIBUTION NETWORK INVESTMENTS II
    CARUNA NETWORKS OY
    Proposed EIB finance (Approximate amount)
    Total cost (Approximate amount)
    EUR 100 million
    EUR 445 million
    Location
    Sector(s)
    • Energy - Electricity, gas, steam and air conditioning supply
    Description
    Objectives

    The project consists of a multi-component investment programme in the electricity distribution network in the South West and the North of Finland in the 2018-2019 period. The programme includes network reinforcements and refurbishments in high, medium and low voltage networks as well as the replacement of overhead lines with underground cables motivated by climate adaptation reasons.

    The project will allow the promoter to connect new users including renewable generation as well as to maintain and improve the reliability and quality standards of electricity supply.

    Environmental aspects
    Procurement

    Some of the project schemes may fall under Annex II of Directive 2014/52/EU amending the Environmental Impact Assessment (EIA) Directive 2011/92/EU, thus requiring a review by the competent authorities at the planning/consent stage with due regard to the necessity for environmental and biodiversity assessments. The promoter's capacity and procedures to ensure compliance with environmental and biodiversity regulations will be reviewed during the appraisal as well as the possibility of impacts on sites of nature conservation.

    The Bank will require the promoter to ensure that contracts for the implementation of the schemes have been and will be tendered in accordance with the relevant applicable EU procurement legislation, Directive 2014/25/EU where applicable, as well as Directive 92/13/EEC and Directive 89/665/EEC, as interpreted by the Court of Justice of the EU, with the publication of tender notices in the Official Journal of the EU, 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) - CARUNA DISTRIBUTION NETWORK INVESTMENTS II
    Publication Date
    18 Dec 2018
    Document language
    Main Topic
    Lending
    Document Number
    87148674
    Document Focus
    Environmental Information
    Project Number
    20180250
    Sector(s)
    Regions
    Countries
    Publicly available
    Download now
    Environmental and Social Completion Sheet (ESCS) - CARUNA DISTRIBUTION NETWORK INVESTMENTS II
    Publication Date
    23 Dec 2021
    Document language
    Main Topic
    Lending
    Document Number
    142795937
    Document Focus
    Environmental Information
    Project Number
    20180250
    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.

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    Media-related enquiries can be addressed to the EIB Press Office. Please also visit our Media information section.

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    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.

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    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.

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