LAZIO PV PLANTS GREEN LOAN

Promoter – Financial Intermediary

CCE HOLDING GMBH

Location

• Italy

Description

The project concerns a portfolio of 3 solar photovoltaic (PV) plants with a total installed capacity of 173MWp, located in the Lazio region. The plants will be constructed and operated by an Austrian-German Independent Power Producer, CCE Holding GmbH.

Objectives

The operation will contribute to the EU-wide target of 32% of energy from renewable sources in gross final energy consumption (RES) for 2030 as set out in the new EU RE Directive (Directive (EU) 2018/2001). The project will also contribute to achieving REPowerEU objectives which aim at increasing the RES 2030 target from 32% to 45%. According to the country's National Integrated Plan for Climate and Energy 2030, Italy is targeting 55.4% renewable share in the electricity sector. The country's solar PV target of 50 GW is expected to be reached by the end of 2030. Revenues from electricity sale will come from corporate PPAs and from sale on the spot market. The project therefore contributes to the policy objective of supporting renewable energy market integration. The financing of this project also contributes to EIB's lending priority objectives on Energy and on Climate Action.

Sector(s)

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

Proposed EIB finance (Approximate amount)

EUR 98 million

Total cost (Approximate amount)

EUR 130 million

Environmental aspects

PV plants fall under Annex II of the Environmental Impact Assessment (EIA) Directive 2011/92/EU as amended by Directive 2014/52/EU, according to which Member States shall determine whether the installation should be subject to a mandatory EIA assessment based on defined criteria. The EIB will request the promoter to align with the competent authority's decisions concerning the need for an appropriate assessment of potential impacts on the integrity of Natura 2000 sites. All projects are awaiting full approval, which is expected to be received by the end of Q1 2023. Impacts on the environment from PV plants are likely to stem from noise, dust and increased traffic during the construction phase and to visual and land use impacts during operation. These impacts are unlikely to cause any significant negative residual effects to the environment.

Procurement

The PV plants will likely be operating without exclusive or special rights within the meaning of the EU Utilities Directive 2004/17/EC and subsequent 2014/25/EU, hence private sector procurement procedures are expected to apply. Equipment and works may be purchased through a single EPC contract or few separate contracts.

Status

Under appraisal - 30/01/2023