Release date: 12 November 2015
Promoter – Financial Intermediary
UK Power NetworksLocation
Description
Renovating and reinforcing the electricity distribution networks throughout the London area, eastern England and south-eastern England
Objectives
Distribution network upgrade, expansion and improvement.
Comments
None
Sector(s)
Proposed EIB finance (Approximate amount)
EUR 708 million (GBP 500 million)
Total cost (Approximate amount)
EUR 1699 million (GBP 1200 million)
Environmental aspects
The majority of the project will concern the implementation of high, medium and low-voltage schemes that are expected to have minimal environmental impact. Some of the high-voltage project schemes may fall under Annex II of the Environmental Impact Assessment (EIA) Directive thus requiring a review by the competent authority with due regard to the necessity for an environmental and biodiversity assessment. The environmental aspects of the project will be appropriately assessed as part of the Bank's appraisal process.
Procurement
The Bank will require the promoter to ensure that contracts for the implementation of the project have been/shall be tendered in accordance with the relevant applicable EU procurement legislation (Directives 2004/18/EC and/or 2004/17/EC as well as Directives 89/665/EEC and 92/13/EEC) as interpreted by the Court of Justice of the EU, with publication of tender notices in the EU Official Journal, as and where required.
Status
Signed - 22/02/2016
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).