CARUNA DISTRIBUTION NETWORK INVESTMENTS II

Promoter – Financial Intermediary

CARUNA NETWORKS OY

Location

• Finland

Description

The project consists of a multi-component investment programme in the electricity distribution network in the South West and the North of Finland in the 2018-2019 period. The programme includes network reinforcements and refurbishments in high, medium and low voltage networks as well as the replacement of overhead lines with underground cables motivated by climate adaptation reasons.

Objectives

The project will allow the promoter to connect new users including renewable generation as well as to maintain and improve the reliability and quality standards of electricity supply.

Sector(s)

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

Proposed EIB finance (Approximate amount)

EUR 100 million

Total cost (Approximate amount)

EUR 445 million

Environmental aspects

Some of the project schemes may fall under Annex II of Directive 2014/52/EU amending the Environmental Impact Assessment (EIA) Directive 2011/92/EU, thus requiring a review by the competent authorities at the planning/consent stage with due regard to the necessity for environmental and biodiversity assessments. The promoter's capacity and procedures to ensure compliance with environmental and biodiversity regulations will be reviewed during the appraisal as well as the possibility of impacts on sites of nature conservation.

Procurement

The Bank will require the promoter to ensure that contracts for the implementation of the schemes have been and will be tendered in accordance with the relevant applicable EU procurement legislation, Directive 2014/25/EU where applicable, as well as Directive 92/13/EEC and Directive 89/665/EEC, as interpreted by the Court of Justice of the EU, with the publication of tender notices in the Official Journal of the EU, as and where required.

Status

Signed - 11/12/2018