Reference: 20150240
Release date: 14 July 2015

Promoter – Financial Intermediary

WINDPLUS, S.A., a company controlled by EDP Group, the Portuguese global utility company, and Repsol, the Spanish global oil and gas company.

Location

Description

The project covers the design, installation, operation and maintenance of a 25 MW floating offshore wind farm about 20km off the coast of Portugal, in 85-100m water depth. The project will comprise 3-4 floating substructures with state-of-the art wind turbines of the 6-8 MW class from a reputable supplier. The project would also include export cable sections to a fixed sub-sea cable connection that is to be installed and operated by the transmission system operator.

Objectives

The development of offshore wind energy supports EU and national targets for renewable energy generation and contributes to security of energy supply and environmental objectives. The project is therefore eligible under Article 309 point (a) projects for developing less-developed regions and point (c) common interest.

Sector(s)

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

Proposed EIB finance (Approximate amount)

EUR 60 million

Total cost (Approximate amount)

EUR 139 million

Environmental aspects

The project falls under Annex II of the Environmental Impact Assessment (EIA) Directive, leaving it to the competent authorities to screen the project in or out based on adequate criteria. The competent authorities have screened the project out due to its relative small size (3-4 turbines) and due to its location outside protected areas. Although no full EIA is required, it will be necessary to go through a less restrictive environmental incidences study, for which comprehensive environmental studies are being produced. No major environmental and social risks are known at this stage.

Procurement

The promoter is excluded from the provisions of Directive 2004/17/EC through the exemption in its Article 24 (e) as the project relates to collaborative research and development services where the benefits are shared between the stakeholders, thus not subject to EU rules on public procurement. However, if after the project appraisal, the EIB were to conclude that the promoter is after all subject to EU public procurement legislation (i.e. Directive 2004/17/EC), then the Bank would require the promoter to ensure that contracts for the implementation of the project have been/will be tendered in accordance with the relevant applicable EU procurement legislation (Directive 2004/17/EC and Directive 92/13/EEC), with publication of tender notices in the EU Official Journal, as and where required.

Status

Signed - 18/10/2018

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

Portugal Energy