EniPower CCGT I

Promoter – Financial Intermediary

EniPower S.p.A.

Location

• Italy

Description

The project concerns the design, construction and operation of two gas fired cogeneration power plants and a gasification unit in the North of Italy: (i) located inside the EniChem industrial site near Ravenna, the first power plant has a planned generation capacity of 772 MWe; the project also includes the required modification of an existing 9-km 132-KV transmission line to 380-KV connecting the new plant to the public grid; (ii) the second power plant of 1 027 MWe is located in the municipality of Ferrera Erbognone, adjacent to the Sannazzaro refinery of Agip Petroli; the project also includes the construction of a new 9-km 380-kV transmission line. About 25% of electricity output will be based on syngas produced by a new gasification unit (1200 t/d) handling a large part of the refinery's heavy hydrocarbons, also forming part of the project.

Objectives

The project will improve the efficiency of electricity and heat production in Italy by the use of modern combined cycle technology (cogeneration). The addition of cost-effective generation capacity is particularly important in the context of market liberalisation, relatively high electricity tariffs and import requirements of 15% of domestic demand. The project will also reduce atmospheric emissions through the shutdown of obsolete heat boilers and the implementation of a gasification process for the conversion of heavy hydrocarbons of the Sannazzaro refinery in clean fuel gas.

Comments

Electricity generation

Sector(s)

• Energy

Proposed EIB finance (Approximate amount)

Of the order of EUR 300 mio

Total cost (Approximate amount)

Of the order of EUR 1 100 mio

Environmental aspects

Both power plants have obtained a formal Environmental Impact Assessment process according to European legislation. Available documents indicate significant emission reductions resulting from the shutdown of obsolete steam boilers and the conversion of heavy and high sulphur refinery hydrocarbons to clean hydrogen and power. The gasification enables the Sannazzaro refinery to comply with upcoming European emission and oil product standards.

Procurement

The promoter carries out formal international tendering for all works contracts and equipment following the relevant national legislation, including publication in the Official Journal of the European Communities when appropriate.

Status

Signed - 20/11/2002