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    Reference: 20170343
    Release date: 21 August 2017

    Promoter – Financial Intermediary

    ORES ASSETS

    Location

    Description

    The operation involves a EUR 550m loan to ORES, the distribution service operator for electricity and gas networks covering 75% of the Walloon region in Belgium. ORES will invest over EUR 1.15bn in the period 2018-2022 to upgrade and extend its gas and electricity networks.

    Objectives

    In addition to maintaining current gas and electricity network security standards in compliance with the latest regulation, the project is expected to result in an overall increase of reliability and to enable the connection of additional renewable generation capacity. Eventually, the project is expected to contribute to growth and employment in the region.

    Sector(s)

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

    Proposed EIB finance (Approximate amount)

    EUR 550 million

    Total cost (Approximate amount)

    EUR 1226 million

    Environmental aspects

    The project includes facilities that fall under Annex II of the EIA Directive (2011/92/EU), which requires the competent national authority to determine the need for an Environmental Impact Assessment (EIA). The impacts that can be typically expected for some schemes relate to visual impact, impact on flying vertebrates, electromagnetic fields, noise nuisance, and disturbances during construction, as well as the possible impacts on protected fauna and flora (Habitats 92/43/EC and Birds 2009/147/EC).

    Procurement

    The Bank will require the promoter to ensure that contracts for the implementation of the project will be tendered in accordance with the relevant applicable EU procurement legislation: Directives 2014/23/EU, 2014/24/EU and/or 2014/25/EU, where applicable, as well as Directives 92/13/EEC (amended 2007/66/EU) 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 - 1/12/2017

    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

    Belgium Energy