Release date: 1 June 2007
Promoter – Financial Intermediary
Wärtsilä Corporation, Helsinki
Location
Description
Part-financing the Promoter’s RDI investment programme over the 2007-2009 period.
Objectives
The Project is aimed at increasing energy efficiency and reducing emissions of large internal combustion engines running on fossil and biodiesel fuel and gas used for electrical energy production and marine applications.
Comments
Manufacturing.
Sector(s)
Proposed EIB finance (Approximate amount)
EUR 100 million.
Total cost (Approximate amount)
Approximately EUR 200 million.
Environmental aspects
Given the characteristics of the Project, it can be expected that the competent authority has decided on the basis of Annex III of the relevant Directive that no EIA is necessary.
The Project seeks not only to develop engines with the lowest possible fuel consumption which comply with existing emissions legislation, but also to anticipate upcoming legislation. A second focus of the Project is to enhance the engines for operation with non-fossil, renewable fuels. The Project will therefore bring substantial environmental benefits in terms of reduced consumption of fossil fuels and also reduced engine emissions.Procurement
The Promoter is a private company, operating in the manufacturing sector; as such it is not covered by EU Directives on procurement.
Status
Signed - 14/11/2007
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).