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Signature(s)

Amount
€ 49,011,000
Countries
Sector(s)
Italy : € 49,011,000
Energy : € 49,011,000
Signature date(s)
12/11/2021 : € 49,011,000
Link to source

Summary sheet

Release date
22 November 2021
Status
Reference
Signed | 12/11/2021
20200924
Project name
Promoter - financial intermediary
INBRE RUN OF RIVER HYDRO
INIZIATIVE BRESCIANE - INBRE - SPA
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 49 million
EUR 65 million
Location
Sector(s)
  • Energy - Electricity, gas, steam and air conditioning supply
Description
Objectives

Financing the implementation of 12 small run-of-river hydroelectric plants and the restoration of 13 weirs along the Arno river, to control the river flow, restore hydraulic defences and protect biodiversity.

Financing for a portfolio of mini hydro power plants along the Arno river in Italy.

Additionality and Impact

The operation focuses on the implementation of 12 small run-of-river hydroelectric plants and the restoration of 13 weirs along the Arno river, to control the river flow, restore hydraulic defenses and protect biodiversity.


The EIB investment in the project will support the deployment of new renewable Hydropower energy capacity in Italy, crucial for the achievement of the 2030 targets set out in the final National Energy and Climate Plan.


This operation addresses the market failures that limit the access to finance of small renewable energy projects, despite the pivotal role they play in contributing to EU energy policy objectives and in the decarbonization strategy to achieve Paris goals. In addition, the investments are expected to generate positive externalities (enhanced biodiversity, flood management), and increase public goods for society (by improving public health) and increased resilience to climate change, which are not effectively reflected in market prices.


Overall, the project is expected to yield good quality and results, due to the wider benefits to society the project promotes. The implementation and operation of the project is supported by adequate governance and capabilities of the promoter.


EIB's innovative developer financing leverages the parent company strength to provide financing to early-stage development projects. This operation will free-up the developer's headroom with domestic financial institutions for lending to other pipeline projects, accelerating project development across the portfolio.


Environmental aspects
Procurement

The operation is expected to have net positive environmental and social impacts, considering their focus on river control and restoration of hydraulic defenses and compliance with the Water Framework Directive 2000/60/EC. The project will support renewable energy investments that contribute to the reduction of greenhouse gases emissions and other airborne pollutants. The small hydro power plants have already received environmental permits by the competent authority in line with the EU Directive 2014/52/EU amending the EIA Directive 2011/92/EU. The sub-schemes will be further assessed during appraisal. The Bank will assess and if needed will reinforce the Promoter's capacity to appraise sub-schemes for compliance with national regulations and EU environmental and biodiversity requirements as well as its capacity to support the Bank's Public Disclosure Policy, which aims at facilitating access by the public to environmentally relevant information.

The Promoter has been assessed by the EIB as a private company not subject to EU rules on public procurement or concessions. However, if after the project appraisal, the EIB were to conclude that the Promoter is after all subject to EU public procurement legislation (2014/25/EU), then the Bank would 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 2014/25/EU as well as Directive 92/13/EEC as interpreted by the Court of Justice of the European Union, with the publication of tender notices in the Official Journal of the European Union, as and where required.

Related projects
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) - INBRE RUN OF RIVER HYDRO
Publication Date
22 Dec 2021
Document language
Main Topic
Lending
Document Number
142716203
Document Focus
Environmental Information
Project Number
20200924
Sector(s)
Regions
Countries
Publicly available
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