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    Reference: 20200657
    Release date: 25 May 2021

    Promoter – Financial Intermediary

    AB VILNIAUS SILUMOS TINKLAI

    Location

    Description

    The project concerns investments in the construction of new renewable energy sources and to upgrade, renew and refurbish the heat distribution network, including the financing of smart meters and new connections.

    Objectives

    Implementation of the project aims at the reduction of losses of heat and at optimisation of heat supply to consumers; it should also increase the reliability of heat supplies. The project will reduce CO2 emissions as well as heat production costs, thereby making the heat more affordable and competitive.

    Sector(s)

    • Energy - Electricity, gas, steam and air conditioning supply

    Proposed EIB finance (Approximate amount)

    EUR 43 million

    Total cost (Approximate amount)

    EUR 66 million

    Environmental aspects

    The project is an investment programme comprising numerous sub-operations from the installation of biomass boilers to the modernisation and extension of district heating grids. Some sub-operations may fall under Annex II of the Environmental Impact Assessment (EIA) Directive 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 management capacity of the Promoter and environmental aspects of the investments, including compliance with the Directive (EU) 2015/2193 of 25 November 2015 on the limitation of emissions of certain pollutants into the air from medium combustion plants, and other EU legislative acts, will be appropriately assessed as part of the Bank's appraisal process.

    Procurement

    The Bank will require the Promoter to ensure that contracts for the implementation of the project have been/shall be tendered in accordance with the relevant applicable EU procurement legislation (Directives 2014/24/EU and 2014/25/EU, where applicable, as well as the Directive 92/13/EEC) as interpreted by the Court of Justice of the EU, with publication of tender notices in the Official Journal of the EU, as and where required.

    Status

    Approved - 12/07/2021

    Disclaimer

    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).

    Related tags

    Lithuania Energy