Release date: 20 September 2002
Promoter – Financial Intermediary
National Grid Company plc (“NGC”), owner and operator of the high voltage electricity transmission system in England and Wales.
Contact points:
Marcy Reed, Investor & Media Relations, Tel +44 20 7312 5779
Martin O'Donovan, Group Treasury, Tel +44 20 7312 5803
Location
Description
The promoter is implementing a multi-annual investment programme aimed at renewing, reinforcing and extending the England & Wales electricity transmission system. It is comprised of a large number of geographically dispersed schemes on the promoter's electricity transmission network.
Objectives
The schemes proposed for EIB co-financing would enhance reliability and safety of electricity supply, facilitate new connections (including distributed and renewable generation) and reduce losses. In addition, a material portion of the schemes is located in regional development areas.
Comments
Electricity
Sector(s)
Proposed EIB finance (Approximate amount)
Up to GBP 200 million
Total cost (Approximate amount)
Approximately GBP 1 billion.
Environmental aspects
The Project primarily comes under Annex II of the Environmental Directive 85/337/EEC as amended by 97/11/EC. Some of the Project schemes may be classified under Annex I and as such require formal EIA. These aspects, including compliance with all applicable national and EU environmental legislation, will be assessed during project appraisal.
Procurement
The promoter's investment programme includes new and replacement electricity cables, transformers, switchgear, overhead lines and towers. The procurement procedures adopted by the promoter comply with the relevant national and EU legislation (93/38/EEC). Such procedures will be verified during appraisal.
Status
Signed - 28/11/2002
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).