Iberdrola Renewable Energy

Promoteur – Intermédiaire Financier

Iberdrola Energías Renovables II SAU

Lieu

• Espagne

Description

Renewable energy (mainly wind power) investment programme involving a package of medium to large scale wind farms geographically dispersed all over in Spain (Objective 1 regions); comprising the installation of up to 30 wind farms with a combined capacity of around 900 MWe to be implemented over the 2006-2007 period.

Objectifs

The project will generate renewable energy for supply to the public grid, and will thereby partly replace fossil fuel-fired power generation. This is in line with national and EU policy objectives and contributes to avoiding the release of CO2 and other environmentally damaging emissions to the atmosphere. The project will also increase the promoter’s share of power generation from renewable energy sources and shall consolidate its position within the Spanish market.

Commentaires

Renewable Energy

Secteur(s)

• Énergie

Montant BEI envisagé (montant approximatif)

Up to 75% of project cost under the Climate Change Financing Facility (CCFF).

Coût total (montant approximatif)

Approximately up to EUR 970 million.

Aspects environnementaux

By virtue of their technical characteristics, the wind farms fall under Annex II of Directive 97/11/EC amended 2003/35/EC. Thus, they would be subject to an EIA based on a case-by-case decision or defined criteria set by the competent authorities. The details of the environmental procedures followed by the promoter (if applicable), the results of EIAs and public consultation, and mitigating measures to be applied will be reviewed during appraisal. This will include the potential effect on nature conservation sites. The Bank’s finance contract will require the promoter to comply with all relevant EU legislation in the field of the environment.

Passation des marchés

The promoter operates a qualification system according to the Utilities Directive (93/38/EEC) for all of its procurement needs. Contracts for implementation of the wind farms will be tendered in accordance with the relevant EU procurement legislation, with publication of tender notices in the EU Official Journal (if appropriate) via a common, electronic register system used by most of the Iberian companies acting in the utilities sector.

Statut

Signé - 27/10/2006