Release date: 2 December 2008
Promoter – Financial Intermediary
AS Latvenergo
Location
Description
The project involves the construction of a natural gas-fired combined heat and power unit within the boundaries of the TEC-2 power site located in the outskirts of Riga.
Objectives
The proposed investment is aimed at replacing old generating units of very low efficiency with a state-of-the-art co-generation plant that is more efficient and results in lower emissions.
Sector(s)
Proposed EIB finance (Approximate amount)
Up to EUR 100 million.
Total cost (Approximate amount)
EUR 388 million.
Environmental aspects
Due to its technical characteristics the project falls under Annex I of the EIA Directive and thus requires an Environmental Impact Assessment. The EIA study was submitted to the Environment State Bureau that issued its opinion on the project on November 24th 2008. The EIA and the opinion of the Environmental State Bureau will be reviewed during appraisal. The promoter confirmed that the project will comply with the requirements of the Large Combustion Plants (2001/80/EC) and the IPPC (2008/1/EC) Directives.
Procurement
The promoter is subject to the Latvian Law on Procurement for the Needs of Public Service Providers that complies with the EU Directive on Public Procurement. The Tendering Process is presently ongoing and is expected to be completed by the end of January 2009.
Status
Signed - 2/10/2009