CYPRUS RE AND EE SMALL INVESTMENTS

Promoteur – Intermédiaire Financier

DIRECTORATE GENERAL FOR EUROPEAN PROGRAMMES, COORDINATION AND DEVELOPMENT - REPUBLIC OF CYPRUS

Lieu

• Chypre

Description

The project consists of an EIB Lending facility for the financing of projects in the wider areas of energy efficiency and renewable energy. The facility will blend with the European Structural and Investment Fund (ESIF) allocations through setting up a financial instrument for financing new investments in the above-mentioned areas.

Objectifs

The project is a critical component of the country's energy strategy in line with the EU regulations. It is financed under the EIB climate action and will contribute to achieve Cyprus' 2020 targets to reduce CO2 emissions, by financing energy efficiency and renewable energy sources. Furthermore, it will contribute to achieving the relevant targets set in the Operational Programme Competitiveness and Sustainable Development 2014-2020 of which the said project forms an integral part.

Secteur(s)

• Industrie - Construction
• Énergie - Production et distribution d'électricité, de gaz, de vapeur et d'air conditionné

Montant BEI envisagé (montant approximatif)

EUR 40 million

Coût total (montant approximatif)

EUR 120 million

Aspects environnementaux

The Bank will assess the capacity and procedures of the Promoter/Financial institutions (FIs) to ensure the sub-projects' compliance with national and European environmental and biodiversity regulations, as well as their capacity to support the Bank's Public Disclosure Policy, which aims at facilitating access by the public to environmentally relevant information.

Passation des marchés

The sub-projects envisaged to be financed under this loan are expected to be developed by private entities, which are not subject to EU Directives with regard to the public procurement or concessions. However, if during appraisal it is found that public procurement procedures are applicable for some sub-projects, the Bank will require the FIs to ensure that contracts for the implementation of these sub-projects will be tendered in accordance with the relevant applicable EU procurement legislation (Directives 2014/23/EU, 2014/24/EU and 2014/25/EU, where applicable, as well as Directives 89/665/EEC and 92/13/EEC) as interpreted by the Court of Justice of the EU, with the publication of tender notices in the Official Journal of the EU, as and where required.

Statut

Signé - 2/12/2019