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    Reference: 20140498
    Release date: 20 May 2015

    Promoter – Financial Intermediary

    PRIVATE ENTITY(IES)

    Location

    Description

    Financing for a renewable energy project - a large wind park in Lestijärvi, Finland.

    Objectives

    The development of onshore wind energy supports EU and national targets for renewable energy generation and contributes to security of energy supply and environmental objectives.

    Sector(s)

    • Energy - Electricity, gas, steam and air conditioning supply

    Proposed EIB finance (Approximate amount)

    EUR 200 million

    Total cost (Approximate amount)

    EUR 654 million

    Environmental aspects

    The project falls under Annex II of the EIA-Directive (2011/92/EU), requiring the competent authorities to determine whether an EIA is required. Given the project size and potential impacts the competent authority required and EIA to be conducted. This was completed in September 2014, including public consultation.

    Procurement

    Electricity production in Finland is exempt from the Utilities Directive by the Council decision 2006/422 /EC. The promoter has been assessed by the EIB as being a private company not having a status of a contracting entity, thus not being subject to EU rules on public procurement.

    Status

    Under appraisal - 19/05/2015

    Disclaimer

    Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The data provided on this page is therefore indicative and cannot be considered to represent official EIB policy (see also the Explanatory notes).

    Related tags

    Finland Energy