Release date: 12 December 2007
Promoter – Financial Intermediary
Location
Description
The project concerns the design, construction and operation of a new natural gas fired CCGT cogeneration plant (nominal capacity 49 MWe) to be installed adjacent to Italy's largest paper mill operated by Cartiere del Garda SpA (CdG, 80% owner of the promoter, a newly formed SPV), near the town of Riva di Garda in northern Italy.
Objectives
The project will help to meet growth in electricity demand in Italy. Moreover, the high efficiency of combined heat and power production (about 80%), will contribute to the EU objective of increasing energy efficiency (EE). Increased EE reduces greenhouse gas emissions and energy import dependence, which are key objectives of the EU energy policy. The project is therefore eligible under article 267 c) energy efficiency.
Sector(s)
Proposed EIB finance (Approximate amount)
About EUR 26 million.
Total cost (Approximate amount)
About EUR 70 million.
Environmental aspects
The project falls under Annex II of Directive 85/337/EC amended 97/11/EC, 2003/35/EC. The competent authority confirmed the environmental compatibility of the plant, exempting it from a full EIA procedure given the reduction in atmospheric emissions compared to those of the existing and previously authorised plant.
Procurement
The promoter is not subject to EU Procurement Directives. The procedures applied will be reviewed during appraisal to ensure compliance with the Bank's principles of applying suitable procurement procedures to the benefit of the project, including competitive tendering.
Status
Signed - 20/06/2008