FINANCING FOR POWER NETWORK MODERNISATION

Promoter – Financial Intermediary

IBERDROLA SA

Location

• Spain

Description

Financing for the development and modernisation of electricity network infrastructure throughout Spain during the 2016-2018 period.

Objectives

The overall purpose of the programme is to modernise the electricity distribution network in order to maintain or improve the quality of electricity supply, cater for new system users and improve the overall operational efficiency of the distribution system operator. It also comprises advanced metering infrastructures, as per the country's mandatory roll-out.

Sector(s)

• Energy - Electricity, gas, steam and air conditioning supply

Proposed EIB finance (Approximate amount)

EUR 500 million

Total cost (Approximate amount)

EUR 1197 million

Environmental aspects

The project will concern the implementation of electricity distribution schemes and comprises overhead lines with voltage levels up to 132 kV, some of which may require the competent national authority to determine the need for an environmental impact assessment (EIA). The main impacts that can be typically expected for the programme relate to noise nuisance and disturbance during construction, vegetation clearance, visual impact, electromagnetic fields as well as impact on flying vertebrates.

Procurement

The Bank will require the promoter to ensure that contracts for the implementation of the project have been/shall be tendered in accordance with the relevant applicable EU procurement legislation (Directives 2004/18/EC, or 2014/24/EU where applicable, and/or 2004/17/EC, or 2014/25/EU where applicable, and/or 2014/23/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 European Union, as and where required.

Status

Signed - 23/12/2016