Release date: 2 July 2009
Promoter – Financial Intermediary
UK Department of Energy and Climate Change (DECC). The Financial intermediary banks will be selected by DECC following a tender. Final beneficiaries are expected to be private sector operators.
Location
Description
The project concerns the implementation of an onshore wind project pipeline through intermediary banks under framework loan. Individual projects should have granted grid access up to 2013 and cost below GBP 100 million.
Objectives
The development of wind energy capacity will support EU and national targets for renewable energy generation and contribute to environmental and security of energy supply objectives. Electricity generation from onshore wind farms can produce electricity with substantially lower environmental impacts, particularly GHG emissions.
Sector(s)
Proposed EIB finance (Approximate amount)
GBP 600 million.
Total cost (Approximate amount)
Up to GBP 2,000 000 000.
Environmental aspects
The project sub-schemes would fall under Annex II of Directive 85/337/EEC (as amended by 97/11/EC and 2003/35/EC) on Environmental Impact Assessment (EIA), leaving it to the national environmental authority to determine whether a full EIA is required. The Bank will assess the financial intermediaries’ capacity and procedures to ensure compliance with national and European environmental and biodiversity regulations as well as their capacity to support the Bank's Public Disclosure Policy, which aims at facilitating access by the public to environmentally relevant information.
Procurement
The Bank will review systems and procedures applied by the financial intermediaries during appraisal, including compliance with relevant national and EU legislation, as defined by Procurement Directive 2004/17/EC, and publication in the Official Journal of the EU where appropriate.
Status
Signed - 9/11/2009
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).