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    Reference: 20180061
    Release date: 28 March 2018

    Promoter – Financial Intermediary

    BUDAPESTI TAVHOSZOLGALTATO ZRT

    Location

    Description

    Investments in the district heating system of Budapest for the period 2018-2020 to improve network performance, optimize the heat generation mix and reduce emissions of greenhouse gases and other air pollutants.

    Objectives

    The main purpose of the project is to satisfy current and future demand for district heating services in the area by modernizing, extending and interconnecting the network as well as increasing the installed capacity of the heat generation facilities. The Programme will improve the Promoter's ability to optimize the heat generation mix and will increase district heating network performance. The main benefit of such investments would be the improvement of the reliability and operational flexibility of the district heating system and the reduction of the absolute amount of local air pollutants (NOx, SO2). This will be achieved by replacing individual smaller, fossil fuel fired heating boilers in residential and public buildings.

    Sector(s)

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

    Proposed EIB finance (Approximate amount)

    HUF 23000 million (EUR 71 million)

    Total cost (Approximate amount)

    HUF 39727 million (EUR 123 million)

    Environmental aspects

    By virtue of their technical characteristics, most of the Programme components will not be subject to an EIA. Some Programme components, however, could fall under category, which requires the competent national authority to determine the need for an EIA. Environmental impacts of the project schemes are expected to be minimal usually come from construction works, are temporary and expected to be mitigated in line with national legislation.

    Procurement

    The Promoter has to follow public procurement rules in compliance with the utilities sector procurement Directive. The Bank will confirm during the appraisal that the procurement process is in compliance with EU procurement rules.

    Status

    Signed - 27/12/2018

    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

    Hungary Energy