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

    Signature(s)

    Amount
    € 76,000,000
    Countries
    Sector(s)
    Cyprus : € 76,000,000
    Energy : € 76,000,000
    Signature date(s)
    17/12/2020 : € 76,000,000

    Summary sheet

    Release date
    7 February 2020
    Status
    Reference
    Signed | 17/12/2020
    20190376
    Project name
    Promoter - financial intermediary
    EAC VASILIKOS CCGT UNIT 6
    ELECTRICITY AUTHORITY OF CYPRUS
    Proposed EIB finance (Approximate amount)
    Total cost (Approximate amount)
    EUR 76 million
    EUR 152 million
    Location
    Sector(s)
    • Energy - Electricity, gas, steam and air conditioning supply
    Description
    Objectives

    Installation of a new Combined Cycle Gas Turbine (CCGT) at Vasilikos Power Station.

    The new CCGT will ensure security and flexibility of electricity supply, in the context of an increasing roll-out of renewable energy sources in Cyprus.

    Environmental aspects
    Procurement

    Based on its technical characteristics, the Project falls under Annex II of the Environmental Impact Assessment Directive 2014/52/EU amending the Environmental Impact Assessment (EIA) Directive 2011/92/EU. An EIA has been submitted for the plant and positive feedback has been obtained from the relevant competent Authority. Town Planning Permit, Building Permit and Construction License have been granted by the relevant competent Authorities. The promoter has indicated that no environmental and social issuesi or concerns have arisen to date. Emissions from the plant will be in line with the relevant EU directive requirements.

    The Promoter has to ensure that contracts for the implementation of the project will be tendered in accordance with the relevant applicable EU procurement legislation, 2014/25/EU or 2004/17/EC, where applicable, as well as Directive 92/13/EEC or Directive 89/665/EEC 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.

    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) - EAC VASILIKOS CCGT UNIT 6
    Publication Date
    24 Nov 2020
    Document language
    Main Topic
    Lending
    Document Number
    130185269
    Document Focus
    Environmental Information
    Project Number
    20190376
    Sector(s)
    Regions
    Countries
    Publicly available
    Download now
    scoreboard - EAC VASILIKOS CCGT UNIT 6
    Publication Date
    8 Feb 2021
    Document Language
    English
    Main Topic
    lending
    Document Number
    137305639
    Document Focus
    EFSI legal requirements
    Document Type
    Scoreboard
    Project Number
    20190376
    Last update
    8 Feb 2021
    Sector(s)
    Energy
    Countries
    Cyprus
    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