Release date: 24 June 2008
Promoter – Financial Intermediary
Iride GroupLocation
Description
The project comprises the construction of a heat and power cogeneration plant (including CCGT, HOB, accumulators and auxiliary systems) in the city of Turin, and expansion of the district heating transportation and distribution network in northern areas of the city.
Objectives
The proposed investment is aimed at substituting oil and gas-based heating plants and hot tap water preparation with heat provided by a central plant and a district heating network that is more efficient and results in lower emissions. The power plant will work in a cogeneration mode producing electricity and heat, which adds further benefits due to higher overall efficiency.
Sector(s)
Proposed EIB finance (Approximate amount)
Up to EUR 200 million.
Total cost (Approximate amount)
Estimated at EUR 494 million.
Environmental aspects
The EIA for the cogeneration plant is being carried out now. The integrated environmental permit is expected to be issued by the end of 2008.
Procurement
The promoter is committed to compliance with the EU procurement legislation. The works comprising the investment plan are currently being tendered.
Status
Signed - 19/12/2008
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).