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The operation concerns the EIB's financing of an asset holding company for the deployment of demand-side energy management solutions. The project promoter is a demand response aggregator in the electricity sector providing smart technical solutions to enable household loads and small commercial and industrial (C&I) loads to participate in the energy markets and unlock their flexibility potential.
The deployment of the technical solution provides a valuable service to power systems by reducing peak load in real time (which would otherwise be met with expensive fossil fuel plants). The project can also contribute to: (i) reduce of electricity consumption (energy efficiency), (ii) differ grid reinforcement, (iii) accommodate distributed energy storage segments (i.e. electric vehicles, stationary batteries) and (iv) can contribute to the integration of a higher share of variable renewable energy in the overall energy mix.
The project concerns the installation of smart devices in residential and commercial/industrial facilities. As per Environmental Impact Assessment (EIA) Directive 2014/52/EU amending the Directive 2011/92/EU, an EIA is not required for this project. E&S related topics will be investigated at appraisal.
The promoters have been assessed by the EIB as being private companies not being subject to EU rules on public procurement or concessions.