Release date: 6 February 2009
Promoter – Financial Intermediary
Private Investors
Location
Description
The project concerns the installation and operation of a 52 – 54 MWp Solar Photovoltaic Plant in the Brandenburg area, eastern Germany. The project area is in a protected area that is also a former military practice area contaminated with explosives and chemicals that require remediation. The project will pay a rental fee that will be used for part-financing the decontamination of the project site. Electricity will be fed into the grid. The PV plants will benefit from a guaranteed feed-in tariff.
Objectives
The development of renewable energy capacity supports national and European targets for renewable energy and contributes to security of energy supply and to environmental objectives, particularly to fighting climate change. Electricity generation from photovoltaic sources will displace fossil fuel-fired generation and the associated emissions of CO2, NOX and SO2.
Sector(s)
Proposed EIB finance (Approximate amount)
50% of Total Investment Costs.
Total cost (Approximate amount)
Depending on the final size, approx. EUR 150 million.
Environmental aspects
The project falls under Annexe II of the EIA Directive and is subject to an EIA based on a case-by-case decision by the competent authority. The project is situated in a SPA-Bird Habitat Protected Area. The site is also a contamination hot spot within a former military practice area requiring site remediation. In this case, an EIA and a specific biodiversity assessment study have been conducted and a permit has been granted. Further details, including compensation and mitigation measures required to ensure coherence with the Natura 2000 network, will be verified during appraisal.
Procurement
Neither the promoter nor the project company are subject to EU Procurement Directives. In line with its principles and its Statute, the Bank will however ensure that suitable procurement procedures, including an appropriate selection of works, goods and services offered at competitive prices will be applied by the promoter and/or the special purpose companies. Details will be verified during appraisal.
Status
Signed - 2/11/2009
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).