Release date: 7 September 2007
Promoter – Financial Intermediary
Fortum Corporation, headquartered in Espoo, Finland.Location
Description
The project consists of three components. Two of them aim to replace aging power and heat production capacities by modern, combined heat and power (CHP) or co-generation plants: (i) Construction of a combined-heat and power (CHP) plant in Poland; (ii) construction of a natural-gas fired CCGT plant co-generating power and heat in Finland; and (iii) implementation of a digital remote metering infrastructure on the low voltage level in Sweden.
Objectives
In line with the EU Action Plan for Energy Efficiency, the project aims to expand the utilisation of combined heat and power plants in Europe, and to support climate change initiatives by promoting efficient generating technologies as well as the use of biomass. The introduction of digital metering is expected to contribute to the development of a harmonised pan-Nordic electricity retail market through automatic meter management (AMM) standardisation.
Sector(s)
Proposed EIB finance (Approximate amount)
EUR 250 million.
Total cost (Approximate amount)
EUR 565 million, indicatively.
Environmental aspects
By virtue of their technical characteristics, the co-generation units are subject to an EIA in line with 97/11, Annex I (CCGT) and Annex II (CHP), respectively. Any adverse environmental impact of the digital remote metering infrastructure is expected to be minimal.
Procurement
The promoter regularly publishes contract notices in the EU Official Journal under the applicable Directives, indicating that the procedures applied appear to follow the requirements. Full details of the followed procurement procedures will be verified during appraisal.
Status
Signed - 26/05/2009
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).