Release date: 13 December 2017
Promoter – Financial Intermediary
The project concerns the construction of a 50 MWe electricity only biomass plant in Galicia, Spain. The plant will use 100% forestry residues in wood chip form, which will be sourced from the region in a 100 km radius around the plant.
The generation of electricity using renewable sources supports the EU objective of climate change mitigation. By ensuring demand for forest wood residues, the project will provide potential mitigation against incidences of forest fires in the region of influence, and will contribute to the sustainability of its forestry and overall economic activity.
- Energy - Electricity, gas, steam and air conditioning supply
Proposed EIB finance (Approximate amount)
EUR 60 million
Total cost (Approximate amount)
EUR 130 million
The project falls under Annex II of the EIA Directive 2011/92/EC, leaving it to the competent national authority to determine the need for an Environmental Impact Assessment (EIA). The project has undergone an EIA which has been completed and has been submitted to the competent authorities. The promoter is expecting environmental permit to be issued before the end of 2017. The Bank will assess environmental aspects of the project during appraisal.
The promoter has been assessed by the EIB as being a private company not being subject to EU rules on public procurement or concessions. However, if after the project appraisal the EIB were to conclude that the promoter is after all subject to EU public procurement legislation Directive 2014/23/EU / 2014/24/EU or 2004/18/EC / 2014/25/EU or 2004/17/EC, where applicable, then the Bank would 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 referenced above 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 European Union, as and where required.
Signed - 25/07/2018
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).