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    Reference: 20160288
    Release date: 22 June 2016

    Promoter – Financial Intermediary

    VVO-YHTYMÄ OYJ

    Location

    Description

    Financing a portfolio of new near-zero-energy buildings (NZEB)

    Objectives

    The energy efficiency improvements to new buildings will reduce energy consumption and lower CO2 emissions, contributing to security of supply and climate change mitigation objectives.

    Sector(s)

    Proposed EIB finance (Approximate amount)

    EUR 204 million

    Total cost (Approximate amount)

    EUR 572 million

    Environmental aspects

    Through the project, several new residential NZEB buildings, as per the requirements of Directive 2010/31/EU on the energy performance of buildings (Article 9(1)), will be constructed in existing built environments. They will, after completion, reduce energy consumption and pollutant emissions compared to the business-as-usual scenario (in compliance with the current regulation).

    Procurement

    The promoter has been assessed by the EIB as being a private company not operating in the utilities sector and not having the status of a contracting entity, 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 Official Journal of the EU, as and where required.

    Status

    Signed - 28/11/2016

    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 Services