Release date: 19 December 2014
Promoter – Financial Intermediary
PRIVATE ENTITY(IES)Location
Description
The project is an allocation under the China Climate Change Framework Loan II and consists of financing urban heat and cold generation with ground source, geothermal and solar heat pump systems. Projects are located in the cities of Weifang and Changyi in the Shandong Province.
Objectives
The project will contribute to the development of energy efficiency in buildings and the use of renewable energies, thus reducing associated air pollution and greenhouse gas emissions.
Sector(s)
- Energy - Electricity, gas, steam and air conditioning supply
Proposed EIB finance (Approximate amount)
EUR 38 million
Total cost (Approximate amount)
EUR 83 million
Environmental aspects
The project will have a positive impact on the environment by reducing the need for fossil fuels for heating and cooling, and thus indirectly reducing pollution (mainly airborne pollution) in urban environments and greenhouse gas emissions. Environmental impact assessments (EIAs) have been performed for the two sub-projects. The Bank will review the EIA process and documentation during appraisal and ensure adherence to its environmental and social standards.
Procurement
The Bank will require that the implementation of the project is done in compliance with the Bank's Guide to Procurement. The Bank will monitor the procurement process to ensure compliance with our Guide.
Status
Approved - 21/10/2015
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).