Release date: 29 July 2010
Promoter – Financial Intermediary
Iberdrola S.A.
Location
Description
The Project consists of a 3-year investment programme (2010-2012) aimed at renovating and extending Scottish Power’s (Iberdrola subsidiary) electricity transmission and distribution networks in North Wales, West England and South/Central Scotland.
Objectives
The main purpose of the Project is to maintain Scottish Power’s network to a high standard of reliability as well as providing additional capacity.
Sector(s)
Proposed EIB finance (Approximate amount)
GBP 650 million.
Total cost (Approximate amount)
Estimated at GBP 1 900 million.
Environmental aspects
The Project schemes are likely to fall under Annex II of the EIA Directive, leaving it to the national competent authorities to decide whether an EIA would be required. Many Project schemes relate to Medium Voltage (MV) and Low Voltage (LV) and are expected to be screened out by the competent authority. The EIA screening criteria applied by the national competent authority in the UK and the provisions for environmental improvement incentives for UK electricity utilities as part of the recent electricity distribution price review process completed by OFGEM will be assessed during appraisal.
Procurement
The Promoter has indicated that it operates in compliance with the EU procurement legislation Utilities Directive 2004/17/EC. Procurement procedures will be assessed as part of the appraisal process.
Status
Signed - 1/12/2010
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).