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    Reference: 20200786
    Release date: 26 May 2021

    Promoter – Financial Intermediary

    CEZ DISTRIBUCE AS

    Location

    Description

    The programme comprises investments in the electricity distribution network in the Czech Republic over the period 2021-2022. It encompasses reinforcements and refurbishments in medium- and low-voltage networks.

    Additionality and Impact

    The program comprises the expansion and modernisation of the electricity distribution network in the Czech Republic, consistently with the country's National Energy and Climate Plan and in alignment with EIB policies. The programme schemes are located in nine regions in the country, all comprising Cohesion Priority Regions. The programme delivers significant economic benefits over and above the financial return, in particular by addressing market failures linked to negative environmental externalities (GHG emissions from power generation and, indirectly, from mobility) and the supply of public goods (security of power supply), and has positive ESG impacts. The Bank's lending participation is expected to have an important impact on acceleration of the financed investment programme and improving its financial matrix. Extended tenor, longer availability period and diversification of lending base further strengthen the EIB's contribution to the objectives of this project.

    Objectives

    The project will allow the Promoter to maintain the reliability and quality of electricity supply, to cater to new system users, to integrate renewable energy and to connect electric vehicle (EV) charging stations.

    Sector(s)

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

    Proposed EIB finance (Approximate amount)

    EUR 400 million

    Total cost (Approximate amount)

    EUR 752 million

    Environmental aspects

    The programme schemes are expected to have limited environmental consequences. Environmental impact studies will be carried out as applicable and mitigating and/or compensation measures will be applied as necessary.

    Procurement

    The Bank will require the Promoter to ensure that contracts for the implementation of the project have been and will be tendered in accordance with the relevant applicable EU procurement legislation (Directive 2014/25/EU where applicable), 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

    Signed - 22/11/2021

    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

    Czech Republic Energy