Reference: 20170097
Release date: 28 September 2017

Promoter – Financial Intermediary

ACCEPTABLE CORPORATE(S)

Location

Description

The project concerns the construction and operation of several onshore wind farms located in the Spanish region of Aragon. The capacity to be installed will be of 300MW and will be developed under the umbrella and as a result of the first Spanish renewables auction held in early 2016.

Objectives

EIB financing for this operation is expected have an important acceleration and demonstration effect as it will be one of the first greenfield renewable energy projects to be financed in Spain after the moratorium in 2012 and the new regulatory framework, which came into effect in 2014. Besides, the present operation will contribute to the achievement of Spanish 2020 targets for renewable energy and to the reduction of the CO2 emissions.

Sector(s)

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

Proposed EIB finance (Approximate amount)

EUR 165 million

Total cost (Approximate amount)

EUR 298 million

Environmental aspects

Eight of the nine wind plants are included in the Annex II of the Environmental Impact Assessment (EIA) Directive 2014/52/EU amending EIA Directive 2011/92/EU, and have been screened in, requiring full EIA including public consultation, while one wind farm, with capacity of 10 MW (only 3 wind turbines) has been screened out. Additionally, the presence of a 28 km 220 kV aerial power line, included in Annex I of the above-mentioned directive, required for the connection to the grid of certain plants, is subject to a separate EIA process. At this time, only two of the nine plants have received the environmental consent, and the rest of the processes, including for the transmission line, are still ongoing. The authorisation procedure and compliance with EIA, Birds and Habitats Directives will be further appraised in detail, in particular the need for cumulative impact assessment and the impact on protected flora and fauna, including adjacent Natura 2000 sites.

Procurement

The Bank will require the promoter to ensure that contracts for the implementation of the project are tendered in accordance with the relevant applicable EU procurement legislation: Directive 2014/23/EU, 2014/24/EU or 2004/18/EC, 2014/25/EU or 2004/17/EC, where applicable, as well as Directive 92/13/EEC or Directive 89/665/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 - 25/04/2018

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

Spain Energy