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    Reference: 20230992
    Release date: 21 May 2024

    Promoter – Financial Intermediary

    ERG SPA

    Location

    Description

    The operation will finance a portfolio of 269 MW of onshore wind and solar photovoltaic (PV) plants.

    Objectives

    The project concerns 3 greenfield onshore wind farms in France, the repowering of three existing onshore wind farms in Italy (2) and in Germany (1), as well as the repowering of 7 solar PV plants in southern Italy.

    Sector(s)

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

    Proposed EIB finance (Approximate amount)

    EUR 243 million

    Total cost (Approximate amount)

    EUR 366 million

    Environmental aspects

    The individual plants and most of the ancillary infrastructure fall under Annex II of the environmental impact assessment (EIA) Directive 2011/92/EU amended by the Directive 2014/52/EU. New overhead transmission lines for the interconnection of the schemes to the grid, if part of the Project and if falling under the Annex I due to their technical characteristics, will be expected to be subject in all cases to an EIA process. Five wind power plants and associated infrastructure underwent an EIA process with all main permits issued to date. One wind power plant (comprising only one turbine) was screened out from an EIA by the relevant authorities. The permit is in force at the time of appraisal and there is no appeal pending. The repowering of the existing solar PV plants was not subject to EIAs, corresponding major consents have already been issued. None of the plants are located inside Natura 2000 sites, but some of them have protected sites in the vicinity, including but not limited to: SAC Montagna Grande di Salemi (ITA010023), SAC Complesso Monti di Santa Ninfa - Gibellina e Grotta di Santa Ninfa (ITA010022), SAC Muldetal bei Aue (DE5341303), and SAC Kalkbrüche im Wildenfelser Zwischengebirge (DE5341302). The authoristion procedures and compliance with the relevant EU directives, specifically Habitats and Birds Directives (92/43/EEC and 2009/147/EC respectively), will be assessed at appraisal, in particular the potential cumulative impacts assessment and the impacts on protected flora and fauna, including Natura 2000 sites. Given that China largely dominates the market of photovoltaic solar panels, and media reports that supply chain of these products would involve forced labour, the Bank will apply an enhanced due diligence on the topic, in line with the EIB's Environmental & Social Standards.

    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 - 29/02/2024

    Milestone
    Under appraisal

    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).

    Related tags

    Italy France Germany Energy