Release date: 27 April 2010
Promoter – Financial Intermediary
The Electricity Authority of Cyprus (EAC)
Mrs. Rania Valanidou
Location
Description
The project consists of a 4-year investment programme aimed at reinforcing and extending the promoter’s transmission and distribution electricity networks throughout Cyprus.
Objectives
The main objectives of the programme are to improve the quality and reliability of electricity supply, satisfy the growing demand for electricity and enable the connection of new customers.
Sector(s)
Proposed EIB finance (Approximate amount)
EUR 200 million.
Total cost (Approximate amount)
EUR 400 million.
Environmental aspects
All of the programme’s schemes will fall under Annex II of the EIA Directive, leaving it to the national competent authority to decide whether an EIA would be required in line with the screening criteria specified in the Directive. However, many project schemes are distribution reinforcements with no significant environmental impact and that will not require formal EIAs.
Procurement
The promoter is subject to the requirements of the EU procurement Directive 2004/17/EC and committed to compliance.
Status
Signed - 29/06/2010
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).