Release date: 8 May 2006
Promoter – Financial Intermediary
Oesterreichische Elektrizitätswirtschafts AG.Location
Description
The project consists of the construction and operation of a pumped storage power plant near Kaprun in the Austrian Alps. The plant will share the two existing hydro reservoirs built in the 1950s with the Kaprun 300 MW pumped storage scheme existing since then.
Objectives
The project will contribute to the requirements for peak power as well as electricity balancing and regulation in the countries covered by the integrated European grid system of the UCTE. This contributes to the balancing of demand and supply and the stability of the grid systems and thus to the security of power supply and the management and rational use of energy in the EU.
Comments
Art 267 a) energy projects of common interest.
Sector(s)
Proposed EIB finance (Approximate amount)
EUR 180 million.
Total cost (Approximate amount)
EUR 365 million. Subject to confirmation/change during project appraisal.
Environmental aspects
Compliance with EU Directive 97/11/EC, amending 85/337/EEC, will be verified during appraisal and the status of any environmental studies and public consultations will be reviewed.
Procurement
The promoter is required to respect national and European legislation applicable to public authorities procurement (Directive 2004/17/EC).
Status
Signed - 20/03/2007