Release date: 23 March 2020
Promoter – Financial Intermediary
EEM - EMPRESA DE ELECTRICIDADE DA MADEIRA SA
The project concerns investments in electricity distribution networks and uprating of one small hydro generation plant in Madeira and Porto Santo islands, Portugal, to be undertaken during 2019-2023.
The overall purpose is to modernise the electricity network in the Autonomous Region of Madeira in order to maintain or improve the reliability and quality of electricity supply, cater for additional distributed generation sources and improve the information to users (via smart meters). Also, the overall operational efficiency of the electricity system will be improved with more modern assets and new LED public lighting. Generation from renewable energy facilities will increase through upgrades in plant and equipment efficiency.
- Energy - Electricity, gas, steam and air conditioning supply
Proposed EIB finance (Approximate amount)
EUR 65 million
Total cost (Approximate amount)
EUR 142 million
The project has the potential for some adverse environmental and social impacts. Environmental and/or social impact studies will be carried out as required and measures to avoid, reduce, mitigate and remedy impacts will be implemented as necessary.
The promoter has to ensure that the contracts for the implementation of the project have been/will be tendered in accordance with the relevant applicable EU procurement legislation, 2014/25/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 publication of tender notices in the EU Official Journal, as and where required.
Signed - 15/12/2020
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).