Release date: 21 December 2010
Promoter – Financial Intermediary
Fortum Oyj, Espoo, FinlandLocation
Description
Construction of waste-to-energy CHP plants in Brista, Sweden and Klaipeda, Lithuania, and implementation of a digital remote metering infrastructure on the low voltage level in Finland.
Objectives
Installation of remote meters will contribute to improve remote reading and demand side management, real time consumption information and differential pricing according to the systems load.
Construction of two waste fuelled CHP plants will contribute to diversion of waste from landfill disposal in line with EU targets, and will in the process reduce greenhouse gas emissions from landfills and improve security of energy supply.
Sector(s)
Proposed EIB finance (Approximate amount)
Up to EUR 250 million
Total cost (Approximate amount)
EUR 500 million
Environmental aspects
The project consists of installation of remote reading meters in Finland and implementation of new, efficient waste-fuelled CHP power plants in Sweden and Lithuania. The projects are not expected to cause significant negative impacts to Natura 2000 sites or to other sites of nature conservation importance. The project will reduce the amount of waste that is landfilled and it will provide a waste recovery route instead of existing disposal route. The project will furthermore provide incentives for energy conservation trough installation of remote meter reading.
Procurement
Based on the information that has been received, the procurement procedures applied by the promoter for the project schemes follow the requirements of EU legislation. The promoter has internal, binding guidelines in place and regularly publishes contract notices in the EU Official Journal in line with the applicable Directives. For the project schemes concerned, TED lists several related contract notices. The procurement processes of each scheme will be further examined during the appraisal.
Status
Signed - 21/03/2011
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).