Release date: 1 September 2006
Promoter – Financial Intermediary
AEM S.p.A., Milan’s municipal electricity, gas and district heating company.Location
Description
The project comprises a 3-year programme of investments for the upgrade and expansion of electricity, gas and district heating networks and involves the replacement and reinforcement of mainly underground distribution assets throughout the city of Milan and surrounding areas.
Objectives
The proposed investments are aimed at reducing losses and improving the safety and reliability of gas, heating and electricity supply networks allowing significant energy savings and, as an additional benefit, improving compliance to meet new environmental and technical standards. Furthermore, they will allow the replacement of older equipment and an increase in network capacity required for new connections.
Sector(s)
Proposed EIB finance (Approximate amount)
Up to EUR 200 million.
Total cost (Approximate amount)
About EUR 400 million.
Environmental aspects
By virtue of their technical characteristics, project schemes fall under Annex II of the Environmental Directive 85/337/EEC (as amended by 97/11/EC), leaving it to the regional competent authority to decide whether an EIA would be required. Given that investments comprise the upgrade and expansion of existing distribution networks in urban areas, it is unlikely that any of the sub-projects of the promoter’s investment programme would require EIAs or affect sites of special interest (Natura 2000 sites): this aspect will be confirmed during appraisal. Overall, the environmental impact will be mainly limited to physical disruption of underground construction works.
Procurement
The Bank will require the Promoter to ensure that contracts for the implementation of the project have been/shall be tendered in accordance with the relevant applicable EU procurement legislation (Dir 93/38/EEC as amended by Dir 2004/17/EC) with parallel publication of tender notices in the Official Journal of the EU as and where appropriate. AEM’s procurement procedures will be further evaluated during appraisal including OJEU notices for the project components and national compliance with EU Directives.
Status
Signed - 4/09/2008
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).