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    Reference: 20150336
    Release date: 3 October 2016

    Promoter – Financial Intermediary

    ELENIA OY

    Location

    Description

    The project concerns a replacement programme focused on improving security of power supply for electricity networks in central Finland. The project includes the refurbishment of ageing medium and low-voltage network infrastructure and investments to weather-proof and increase storm resilience of the network, and to improve power quality.

    Objectives

    Distribution network modernisation and modification to increase security of electricity supply

    Sector(s)

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

    Proposed EIB finance (Approximate amount)

    EUR 150 million

    Total cost (Approximate amount)

    EUR 333 million

    Environmental aspects

    The project includes some 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 impact that can be typically expected for some schemes relate to visual impact, vegetation clearance, impact on flying vertebrates, electromagnetic fields, noise nuisance, and disturbances during construction. Medium voltage (MV) and low voltage (LV) schemes are normally expected to have minimal or no environmental impact. According to the promoter, an environmental study could be required, but for this type of investments the promoter has never conducted a full EIA study. The appraisal will focus on the promoter's environmental capacity and work procedures.

    Procurement

    The Bank will require the promoter to ensure that contracts for the implementation of the project have been or shall be tendered in accordance with the relevant applicable EU procurement legislation (i.e. Directives 2014/23/EU, 2014/24/EU and/or 2014/25/EU, where applicable, 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 Official Journal of the EU, as and where required.

    Status

    Signed - 21/12/2018

    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

    Finland Energy