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        IBERDROLA ELECTRICITY DISTRIBUTION III

        Signature(s)

        Amount
        € 450,000,000
        Countries
        Sector(s)
        Spain : € 450,000,000
        Energy : € 450,000,000
        Signature date(s)
        24/02/2005 : € 100,000,000
        10/02/2005 : € 350,000,000

        Summary sheet

        Release date
        30 November 2004
        Status
        Reference
        Signed | 10/02/2005
        20040225
        Project name
        Promoter - financial intermediary
        Iberdrola Electricity Distribution III
        The Group Iberdrola.
        Proposed EIB finance (Approximate amount)
        Total cost (Approximate amount)
        Up to 34% of project cost.
        Approximately EUR 1200 m.
        Location
        Sector(s)
        Description
        Objectives

        Reinforcement and extension of electricity distribution networks in Spain.

        The project is part of the promoter’s 2005-2007 ongoing capital spending programme in electricity distribution facilities. The capacity being added over the three-year period includes power transformers, overhead lines and underground cables of high, medium and low voltage. The investments will benefit regions mostly considered assisted areas objective 1 and 2.

        Environmental aspects
        Procurement

        No schemes fall under Annex I, but some pertain to Annex II of the EU Environmental Directive. The promoter submits its investment proposals on an annual basis to the competent authorities.

        The promoter follows EU public procurement procedures in accordance with the Utilities Directive 93/38/EC pending transposition of 2004/17/EC into national law.

        Comments

        Electricity distribution.

        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).

        General enquiries and comments

        The EIB is committed to open communication and encourages constructive stakeholder input regarding its activities.
        Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
        Alternatively, the EIB can be contacted through its external offices.
        Queries regarding details of a specific project, in particular when it is under appraisal by the EIB, should preferably be addressed directly to project promoters.

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        Media-related enquiries can be addressed to the EIB Press Office. Please also visit our Media information section.

        Complaints mechanism

        Any complaint regarding alleged maladministration can be lodged via the EIB Complaints Mechanism. The European Ombudsman acts as an independent external accountability mechanism of the EIB.

        Zero tolerance against fraud and corruption

        The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Investigations Division. All reports will be treated as strictly confidential and handled in line with EIB investigation procedures and the EIB Group Anti-Fraud Policy.

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