Release date: 28 October 2015
Promoter – Financial Intermediary
Caruna Networks Oy
Caruna Oy and Caruna Espoo Oy will invest to weather-proof transmission and distribution networks in Finland to enhance the security of supply.
Distribution network modernisation and modification to increase security of electricity supply.
Proposed EIB finance (Approximate amount)
EUR 200 million
Total cost (Approximate amount)
EUR 529 million
The programme includes certain number of facilities that 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 environmental aspects of the project will be appropriately assessed as part of the Bank's appraisal process.
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.
Signed - 21/12/2016
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).