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    Reference: 20180566
    Release date: 11 September 2019

    Promoter – Financial Intermediary

    Not disclosed.

    Location

    Description

    Construction and operation of two onshore wind farms in the North-Eastern region of Akkar in the Republic of Lebanon, with a capacity of 89.1 MW and 67.1 MW respectively, under the Round 1 Wind Independent Power Producer program.

    Objectives

    The share of renewable energy (RE) generation in Lebanon is currently around 5%. The project will help Lebanon reach its RE targets, the current target of 20% by 2020 and the target of 30% by 2030 as per the new national Renewable Energy Action Plan (NREAP). It will also help the country meet the targets of new annual capacity needed to keep up with the country's increasing energy demand and decrease the current energy supply deficit. Additionally, the project is in line with the objectives of the EIB energy sector lending, the External Lending Mandate 2014-2020 (energy infrastructure, climate action), the Climate Action objectives and the UN Sustainable Development Goals 7 (Modern Energy for all) and 13 (Climate Action). This operation is covered by the EU Guarantee for EIB loans outside the EU.

    Sector(s)

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

    Under ELM Guarantee

    This operation is covered by the ELM Guarantee.

    Proposed EIB finance (Approximate amount)

    USD 120 million (EUR 109 million)

    Total cost (Approximate amount)

    USD 317 million (EUR 288 million)

    Environmental aspects

    According to Lebanese law (Annex 1 of the decree of the Ministry of the Environment 8633/2012) power generation and supply plants, such as the project, require full Environmental Impact Assessment studies (EIA). The Promoters have completed the Environmental and Social Impact Assessment (ESIA) based on Lebanese Laws. The Ministry of Environmental has granted its conditional approval in July 2019. Furthermore, in order to comply with Lenders requirements, the Promoters have produced, for each wind farm, a supplementary draft Environmental and Social Impact Assessment (ESIA), a Stakeholder Engagement Plan (SEP), and a high-level Environmental and Social Management Plan (ESMP). The Promoters are also preparing a comprehensive assessment of the baseline or Social Impact Assessment (SIA), and an additional Environmental and Social Action Plan (ESAP).

    Procurement

    The Bank will require the Promoters to ensure that implementation of the project will be done in accordance with the Bank's Guide to Procurement.

    Status

    Approved - 14/11/2019

    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

    Lebanon Energy