Release date: 26 June 2015
Promoter – Financial Intermediary
NORTHERN POWERGRID HOLDINGS COLocation
Description
Northern Powergrid, the distribution network operator for the northeast England and Yorkshire regions, based in Newcastle Upon Tyne in England, seeks EIB financing for its network investments for the period 2015-2016
Objectives
Distribution network upgrade, expansion and improvement.
Comments
Total project cost is estimated to be approximately GBP 700 million.
Sector(s)
Proposed EIB finance (Approximate amount)
GBP 300 million
Total cost (Approximate amount)
GBP 700 million
Environmental aspects
Most of the project will concern the implementation of medium and low-voltage schemes that are expected to have minimal environmental impact. 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 - 2/12/2015