Release date: 10 October 2019
Promoter – Financial Intermediary
NEOENERGIA SALocation
Description
The project consists of a Framework Loan to finance renewable energy projects in Brazil, promoted by Neoenergia.
Objectives
The project is expected to contribute to the External Lending Mandate 2014-2020 objectives including climate change mitigation. The operation is well aligned with the United Nations Sustainable Development Goals 7 ("ensure access to affordable, reliable, sustainable and modern energy for all") and 13 ("take urgent action to combat climate change and its impacts"). The operation will also contribute to the EIB's priority objectives for energy sector lending related to renewable energy sources, in line with the EIB's Energy Lending Criteria and its Climate Action objectives.
Sector(s)
- Energy - Electricity, gas, steam and air conditioning supply
Under ELM Guarantee
This operation is covered by the ELM Political Risk Guarantee.
Proposed EIB finance (Approximate amount)
EUR 250 million
Total cost (Approximate amount)
EUR 500 million
Environmental aspects
If the plants were located within the EU they would fall under Annex II of the Environmental Impact Assessment (EIA)Directive (2014/52/EU amending the 2011/92/EU), requiring the competent authorities to determine whether an EIA is required. The capability of the Promoter to comply with the EIB's Environmental and Social standards will be assessed as part of the appraisal of the framework loan. The authorization procedure of each scheme and its compliance with the EIB's Environmental and Social standards and the principles of relevant EU Directives, will be verified at the appraisal of the individual schemes.
Procurement
It is required that the promoter to ensure that implementation of the project will be done in accordance with the EIB's Guide to Procurement. The EIB will not finance plants for which the procurement process is impacted by local content requirements non-compliant with the above mentioned Guide to Procurement.
Status
Signed - 4/12/2019
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).