Release date: 18 October 2006
Promoter – Financial Intermediary
HERA S.p.A., one of Italy’s largest regional multi-utility companies providing waste, water, and energy related services in the Emilia-Romagna area.Location
Description
The project forms part of HERA’s four-year expansion plan (2005-2008), which consists of several investment schemes in its waste management and energy business activities. The investment schemes identified at this stage: (i) the extension of four existing municipal solid waste incineration plants by one unit each (totalling around 400 kt/y capacity), and (ii) the construction/conversion of up to four Combined Cycle Gas Turbines.
Objectives
The project’s economic interest is linked to its contribution to avoiding the landfilling of untreated waste and to improved waste management. All of the waste incineration units will be designed for electricity generation and two of them will be used to co-generate heat, thereby enabling a rational recovery and use of energy from municipal waste combustion. The new power stations will develop indigenous resources for electricity generation and contribute to the reduction in import dependency, i.e. to security of supply. The cogeneration of electricity and heat will allow high energy-conversion efficiency and thus a rational use of energy.
Sector(s)
Proposed EIB finance (Approximate amount)
Up to EUR 200 million.
Total cost (Approximate amount)
Up to EUR 400 million.
Environmental aspects
By virtue of their technical characteristics, all major project schemes (i.e. new waste incinerator units and power plants) fall under Annex I of the EIA Directive 85/337/EEC, amended by Directives 97/11/EC and 2003/35/EC requiring hence a full EIA. The details of the environmental procedures followed including the results of the EIA, public consultation and proposed mitigating measures will be reviewed during appraisal. This will include obtaining information from the competent authorities regarding any impact on nature conservation sites according to “Habitats” Directive 92/43/EEC and the Natura 2000 network.
Procurement
It appears that HERA operates a qualification system according to the Utilities Directive, by which the equipment required for the construction of the waste incineration units will be procured. This indicates that the procurement procedures applied by the promoter are in compliance with the EU legislation on procurement. Details will be verified during appraisal.
Status
Signed - 27/12/2006
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).