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    Reference: 20170745
    Release date: 27 July 2018

    Promoter – Financial Intermediary

    AL FANAR CO LTD

    Location

    Description

    The project consists of the financing of 21 wind farms with sizes ranging from 8 to 50 MW - for a total installed capacity of 547 MW (163 wind turbines), located in Andalucía, Asturias, Castilla la Mancha, Castilla León, Galicia y Navarra. The plants were awarded to the promoter during the third renewable energy auction that was held in Spain in 2017.

    Objectives

    EIB financing for this operation is expected to have an important acceleration and demonstration effect. Indeed, 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 Spain 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 385 million

    Total cost (Approximate amount)

    EUR 643 million

    Environmental aspects

    The project falls under the Annex II of the EIA-Directive (Directive 2014/52/EU amending the EIA Directive 2011/92/EU), and have been screened in by the competent authority, requiring EIA processes to be performed. The authorization procedure, including the need of EIA processes for the interconnection facilities, and compliance with EU EIA, Birds and Habitats directives will be further appraised in detail, in particular the need for a cumulative impacts assessment and the impacts on protected flora and fauna, including Natura 2000 sites.

    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: 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 EU Official Journal, as and where required.

    Status

    Signed - 11/07/2019

    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