Release date: 20 May 2019
Promoter – Financial Intermediary
IREN SPALocation
Description
The project consists of the financing of the promoter's 2018-2022 climate action and circular investments in the solid waste and hydro-electric sectors.
Objectives
The operation is structured as a programme of investments. The waste sector investments will be carried out in the main service area in the Liguria, Piedmont and Reggio Emilia regions, while the hydroelectric investments focus on 16 sites located in four different areas/valleys (3 in Piedmont, 1 in Campania). The project comprises the following waste sector investments: i) Two anaerobic digestion plants for bio-waste with a total capacity of 175 000 t/yr, ii) one waste wood to pallets production plant with a capacity to process about 110,000 tonnes per year of waste wood and iii) the purchase of new electric waste collection and other vehicles. The hydro-electric investments comprise about 16 plants in four rivers with i) the rehabilitation of existing hydro power plants, ii) the increase of operational efficiency, safety and reliability of existing units and iii) the construction of 3 new mini-hydro power plants.
Comments
n/a
Sector(s)
- Energy - Electricity, gas, steam and air conditioning supply
- Solid waste - Water supply; sewerage, waste management and remediation activities
Proposed EIB finance (Approximate amount)
EUR 120 million
Total cost (Approximate amount)
EUR 210 million
Environmental aspects
The three waste facilities are expected to fall under Annex 2 of the Environmental Impact Assessment (EIA) directive (Directive 2014/52/EU amending the EIA Directive 2011/92/EU), and EIAs are required for the two digestion plants while the screening decision has not yet been received for the waste wood to pallets plant. None of the hydro-electric components are expected to require EIA. Compliance with the Habitats directive (92/43/EEC), Birds Directive (79/409/EEC), the Industrial Emissions Directive 2010/75/EU, and the Water Framework Directive (WFD) 2000/60/EC may also be required, where relevant. This will be verified during the appraisal.
Procurement
The Bank will require the promoter to ensure that contracts for the implementation of the project have been or will be tendered in accordance with the relevant applicable EU procurement legislation, Directive 2014/23/EU / 2014/24/EU, 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 the publication of tender notices in the Official Journal of the EU, as and where required.
Status
Signed - 29/07/2019
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).