Release date: 18 September 2019
Promoter – Financial Intermediary
COBRA GESTION DE INFRAESTRUCTURAS SA
The project concerns the construction and operation of 18 solar photovoltaic (PV) plants with a total capacity of c. 900 MWp located the Spanish regions of Aragon and Castilla La Mancha. The plants were awarded with a specific regulation as a result of a competitive auction for renewable energy projects held in Spain in July 2017 .
The implementation of PV projects is in line with EU and national objectives and contributes to EIB's renewable energy and energy efficiency objectives. In addition, they contribute to cohesion policy as some of the project schemes are located in the Spanish region of Castilla-La Mancha, considered a convergence region.
- Energy - Electricity, gas, steam and air conditioning supply
Proposed EIB finance (Approximate amount)
EUR 288 million
Total cost (Approximate amount)
EUR 577 million
All the project components (PV plants, grid connection infrastructure) fall under Annex II of the Environmental Impact Assessment (EIA) Directive 2014/52/EU amending the EIA Directive 2011/92/EC. All the EIAs have been completed and submitted to the competent regional environmental authorities, and the environmental permits issued. The EIB will assess the compliance of the authorisation procedure with the relevant EU directives and other environmental aspects of the project during appraisal.
The promoter has been assessed by the EIB as being a private company not being subject to EU rules on public procurement or concessions. However, if after the project appraisal, the EIB were to conclude that the promoter is after all subject to EU public procurement legislation (Directive 2014/25/EU or 2004/17/EC), then the EIB would require the promoter to ensure that contracts for the implementation of the project have been tendered in accordance with the relevant applicable EU procurement legislation as interpreted by the Court of Justice of the EU, with publication of tender notices in the EU Official Journal, as and where required.
Signed - 16/06/2020
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).