Reference: 20170267
Release date: 1 June 2017

Promoter – Financial Intermediary

SIA TCK

Location

Description

A 50.4 MW onshore wind power project located 8-10 km from the Baltic coast of Latvia in the Ventspils region

Objectives

The project will generate electricity from renewable energy supporting EU and national targets for renewable energy and thus contributes to environmental and security of energy supply objectives. The project is located in a cohesion priority region. The financing of this project would contribute to the EIB's lending priority policies on social cohesion, renewable energy and climate action.

Sector(s)

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

Proposed EIB finance (Approximate amount)

EUR 58 million

Total cost (Approximate amount)

EUR 80 million

Environmental aspects

By virtue of the technical characteristics the project is classified as an Annex II project according to the Environmental Impact Assessment (EIA) Directive (2011/92/EU) (as amended by Directive 2014/52/EU). According to national legislation it is subject to a mandatory EIA, including public consultation. The environmental studies for the EIA process were undertaken in the period 2011 to 2013. Subsequent to public consultation, the competent authority granted an environmental approval in 2013. The approval contains requirements to mitigate environmental impacts from noise, flickering and bird migration.

Procurement

The project will be operating without exclusive or special rights within the meaning of the Utilities Directive 2004/17/EC as amended by Directive 2014/25/EU. Equipment and works will be purchased through two main separate contracts – one for supply and installation of turbines and another for all infrastructure works.

Status

Approved - 18/10/2017

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

Latvia Energy