Release date: 14 February 2024
Promoter – Financial Intermediary
TERNA ENERGY INDUSTRIAL COMMERCIAL AND TECHNICAL SALocation
Description
Construction and operation of a pumped hydro storage (PHS) plant, with electricity generating capacity of 680 MW, located in Amfilochia, Western Greece.
Objectives
The aim is to increase the efficiency, flexibility, reliability and security of energy supply, facilitate the integration of RES and ultimately, accelerate decarbonisation.
Sector(s)
- Energy - Electricity, gas, steam and air conditioning supply
Proposed EIB finance (Approximate amount)
EUR 120 million
Total cost (Approximate amount)
EUR 685 million
Environmental aspects
The project falls under Annex I of the Environmental Impact Assessment (EIA) directive 2011/92/EU as amended by Directive 2014/52/EU. The Environmental Impact Assessment (EIA) was completed and approved in January 2018, while the construction permit was issued in October 2022. These aspects will be further examined and confirmed during appraisal. Where and if applicable, the requirements of the Birds Directive 2009/147/EC and Habitats Directive 92/43/EEC will be verified during appraisal.
Procurement
The promoter has been assessed by the EIB as being a private company not being subject to EU rules on public procurement or concessions. However, if at the project appraisal, the EIB were to conclude that the promoter is subject to the EU public procurement legislation then the Bank would duly inform the Commission Services and would require the promoter to apply those rules.
Status
Under appraisal - 21/11/2023
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).