THEIA SOLAR GREEN LOAN

The project portfolio consists of three solar photovoltaic plants (PV) with a combined capacity of 710 MW, located in Teleorman county, Romania.

This project will contribute to achieve both national and EU energy and decarbonisation objectives, as well as the EIB's lending policy on social cohesion, renewable energy and climate action. Being located in an EIB Cohesion Priority Region, it will also contribute to regional development. The revenues of the project will rely on commercial PPA(s) and sales on the wholesale market. The project thereby contributes to support market integration of renewable energy projects.

The individual plants and the ancillary infrastructure fall under Annex II of the environmental impact assessment (EIA) Directive 2011/92/EU (amended by the Directive 2014/52/EU), requiring the competent authorities to determine whether an EIA is required. The EIB will review the EIA screening process applicable to all three plants during appraisal. 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. The EIB will assess compliance with applicable EU Directives during appraisal, in particular concerning cumulative impacts and potential impacts on nature conservation sites. The Bank will also assess the capacity and capability of the promoter to implement the Project and its compliance with applicable EU Directives.

The Promoter has been assessed by the EIB as being a private entity and 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. However, if during project appraisal, the EIB were to conclude that the promoter is subject to the EU public procurement legislation then the Bank would require the promoter to apply those rules.