Release date: 31 October 2006
Promoter – Financial Intermediary
ENEL Produzione S.p.A.Location
Description
The project concerns a portfolio of renewable and conventional energy investments comprising both refurbishment and new investment at around 20 geothermal power plants, 10 small-scale hydroelectric plants, further repowering at two existing oil-fired power plants into gas-fired CCGT units, as well as mandatory investments for environmental improvements of flue gas abatement systems at four existing power stations.
Objectives
(i) Increase of renewable energy production; (ii) energy efficiency; (iii) reduction of greenhouse gases; (iv) diversification of the Italian and EU energy mix; (v) contribution to regional development.
Comments
Electricity.
Sector(s)
Proposed EIB finance (Approximate amount)
Up to EUR 450 million.
Total cost (Approximate amount)
Up to EUR 927 million.
Environmental aspects
The small-scale renewable energy plants included in the project fall under Annex II of Directive 85/337/EC amended by 97/11/EC and 2003/35/EC. Thus, these project sub-schemes would be subject to an EIA based on a case-by-case decision or defined criteria set by the competent authorities. Repowering and conversion of fossil fuel power plants fall under Annex I of the aforementioned Directives, and are therefore subject to a full EIA. Project information provided to the Bank indicates that the EIA for most of the sub-schemes has already been completed and that competent authorities have already granted environmental permits. The details of the environmental procedures followed by the promoter (if applicable), the results of EIAs and public consultation, and mitigating measures to be applied will be reviewed during appraisal.
Procurement
The promoter follows EU public procurement procedures in line with the Utilities Directive 2004/17/EC.
Status
Signed - 26/06/2007
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).