Release date: 17 September 2019
Promoter – Financial Intermediary
The project will finance Elenia's on-going investments for the extension and refurbishment of the electricity networks in the southern and central part of Finland in the period 2020-2021.
The programme focuses on the replacement of medium voltage (MV) and low voltage (LV) overhead lines with underground cables motivated by climate adaptation reasons. It also includes investments in high voltage assets and new connections.
- Energy - Electricity, gas, steam and air conditioning supply
Proposed EIB finance (Approximate amount)
EUR 100 million
Total cost (Approximate amount)
EUR 246 million
The programme includes large number of electricity distribution schemes up to 110 kV with the majority of schemes being in medium and low voltage networks. Some Programme schemes may fall under Annex II of the Environmental Impact Assesssment (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 impact and appropriate assessments. The environmental and social due diligence will follow the programme lending approach according to the EIB's procedures and standards, i.e. the due diligence focussed on the promoter's capacity and capability to implement the programme in line with EIB environmental and social standards and requirements.
The EIB will require the promoter to ensure that contracts for the implementation of the project 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 publication of tender notices in the EU Official Journal, as and where required.
Signed - 1/04/2020
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).