Release date: 8 September 2003
Promoter – Financial Intermediary
Edison S.p.A.Location
Description
Design, engineering, procurement, construction, commissioning and operation of two natural gas-fired combined cycle (CCGT) plants:
- The first power plant of about 760 MWe will be located within the municipality of Altomonte in the Calabria region. Electricity will be exported into the Italian grid via a new 2-km connection to the HV-line. Natural gas supply will be via a new 1.3 km gas pipeline.
- The second power plant will be situated in the municipality of Candela in the Puglia region. The plant's CCGT is designed for a nominal power output of around 380 MWe. Electricity will be supplied through a new 380-kV HV transmission line of 40 km. The fuel will be a mixture of gases, originating from the national natural gas grid and from two local gas sources close to the site.
Objectives
The project aims at modernising and increasing the promoter's electricity generating capacity in Italy, with the construction of two new state-of-the-art power plants complying with the strictest environmental standards.
The project will improve the efficiency of electricity production through the use of efficient combined cycle technology. The addition of cost-effective generation capacity is particularly important in the context of the ongoing market liberalisation in Italy, relatively high electricity tariffs and import requirements of 15% of Italian demand. The project may also reduce atmospheric emissions through the shutdown elsewhere in the country of obsolete polluting units and their replacement with CCGT.
Comments
Electricity generation
Sector(s)
Proposed EIB finance (Approximate amount)
Of the order of EUR 250 million
Total cost (Approximate amount)
Of the order of EUR 550 million
Environmental aspects
The Environmental permits for both power plants were granted by the Ministry of Environment in 2002, based on Environmental Impact Assessments (EIA) carried out according to national regulations and the relevant EU Directive 97/11/EC, according to which both plants fall under Annex I. The emission limits defined in both environmental permits are in line with EU Directive 2001/80/EC, thanks to the relatively low level of pollution deriving from this modern combined cycle technology and the use of natural gas.
Procurement
The services and the equipment for both plants have been procured jointly in a number of packages during 2001-2002, following the requirements of the relevant EU directive (93/38/EC, 92/50/EC), including publication in the OJ of the EC.
Status
Signed - 29/07/2004
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).