Reference: 20160077
Release date: 25 August 2016

Promoter – Financial Intermediary

SPECIAL PURPOSE ENTITY(IES)/FUND

Location

Description

Construction and operation of a 50MW onshore wind park portfolio comprising three wind farms located in the wider Tanagra municipality in Viotia, Greece.

Objectives

The development of wind energy supports EU and national targets for renewable energy generation and contributes to the Bank's renewable energy and energy efficiency objectives. The project further contributes to the Bank's priority objectives for climate action (transversal).The project is therefore eligible under Article 309 point (a) projects for developing less-developed regions and point (c) common interest (energy/renewable energy).

Sector(s)

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

Proposed EIB finance (Approximate amount)

EUR 24 million

Total cost (Approximate amount)

EUR 55 million

Environmental aspects

Wind farms fall under Annex II of the EIA Directive 2011/92/EU. It is therefore up to the Member State's competent authority to judge whether an individual wind farm requires an EIA or not, based on criteria defined in Annex III of the EIA Directive. The project has been screened-in according to Greek law and each wind farm underwent an individual EIA process. No significant negative impacts were identified. All permits appear to be in place, including an Environmental Terms Approval based on an Environmental Impact Studies. The closest Natura 2000 site (SPA, Oros Parnitha) is ca. 5 km – 10km away from the sub-projects. During appraisal, the authorisation procedure of the project, incl. public consultations, and its compliance with applicable EU Directives (EIA, Habitats and Bird Directives), will be reviewed. If necessary, a Form A/B will be requested from the competent authorities.

Procurement

The promoter has been assessed by EIB as being a private company not operating in the utilities sector and not having a status of a contracting entity, thus not being 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 - 19/07/2017

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

Greece Energy