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Signature(s)

Amount
€ 65,000,000
Countries
Sector(s)
Portugal : € 65,000,000
Energy : € 65,000,000
Signature date(s)
15/12/2020 : € 20,000,000
15/12/2020 : € 45,000,000

Summary sheet

Release date
23 March 2020
Status
Reference
Signed | 15/12/2020
20190873
Project name
Promoter - financial intermediary
MADEIRA ELECTRICITY NETWORK MODERNISATION
EEM - EMPRESA DE ELECTRICIDADE DA MADEIRA SA
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 65 million
EUR 142 million
Location
Sector(s)
  • Energy - Electricity, gas, steam and air conditioning supply
Description
Objectives

The project concerns investments in electricity distribution networks and uprating of one small hydro generation plant in Madeira and Porto Santo islands, Portugal, to be undertaken during 2019-2023.

The overall purpose is to modernise the electricity network in the Autonomous Region of Madeira in order to maintain or improve the reliability and quality of electricity supply, cater for additional distributed generation sources and improve the information to users (via smart meters). Also, the overall operational efficiency of the electricity system will be improved with more modern assets and new LED public lighting. Generation from renewable energy facilities will increase through upgrades in plant and equipment efficiency.

Environmental aspects
Procurement

The project has the potential for some adverse environmental and social impacts. Environmental and/or social impact studies will be carried out as required and measures to avoid, reduce, mitigate and remedy impacts will be implemented as necessary.

The promoter has to ensure that the contracts for the implementation of the project have been/will be tendered in accordance with the relevant applicable EU procurement legislation, 2014/25/EU, 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 EU Official Journal, 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) - MADEIRA ELECTRICITY NETWORK MODERNISATION
Publication Date
1 Oct 2020
Document language
Main Topic
Lending
Document Number
129309674
Document Focus
Environmental Information
Project Number
20190873
Sector(s)
Regions
Countries
Publicly available
Download now
scoreboard - MADEIRA ELECTRICITY NETWORK MODERNISATION
Publication Date
3 Jun 2021
Document Language
English
Main Topic
lending
Document Number
142411556
Document Focus
EFSI legal requirements
Document Type
Scoreboard
Project Number
20190873
Last update
4 Jun 2021
Sector(s)
Energy
Countries
Portugal
Publicly available
Download now

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 Investigations Division. All reports will be treated as strictly confidential and handled in line with EIB investigation procedures and the EIB Group Anti-Fraud Policy.

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