Release date: 24 June 2015
Promoter – Financial Intermediary
HERA SPALocation
Description
2015-2019 investments in electricity and gas distribution networks and in public lighting installations
Objectives
The main purpose of the project is to upgrade obsolete hardware, to build or upgrade substations, to improve the safety and reliability of electricity and gas supplies, to maintain the quality standards required by the national regulator AEEGSI and to enable the connections of new system users. The project might also comprise the installation of smart meters in gas.
Sector(s)
Proposed EIB finance (Approximate amount)
EUR 129 million
Total cost (Approximate amount)
EUR 260 million
Environmental aspects
The project will concern the implementation of medium and low-voltage schemes in electricity and gas distribution schemes, some of which will fall under Annex II of the Environmental Impact Assessment (EIA) Directive (2011/92/EU) which requires the competent national authority to determine the need for an EIA. The project schemes are expected to have minimal environmental impact. The appraisal will include an update of the promoters’ environmental capacity and works procedure. It will be clarified whether any of the project schemes requires an EIA during the appraisal.
Procurement
The promoters are well known to the Bank and procurement procedures are expected to be in accordance with Directive 2004/17/EC.
Status
Signed - 8/09/2015
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).