ENERGA HYBRID BOND

Hybrid bond for the modernisation and extension of ENERGA's electricity distribution network during the period 2017 - 2019

The programme aims to cater for demand growth, reduce losses, connect new end-users as well as renewable generators, and improve the reliability and quality of electricity supply. The programme includes the installation of advanced meters and other smart grid components.

The programme comprises a large number of electricity distribution schemes up to 110 kV with the majority of schemes being reinforcements of medium and low-voltage equipment and connection of new users with limited environmental impact. Some programme schemes may fall under Annex II of the Environmental Impact Assessment (EIA) Directive 2011/92/EU thus requiring a review by the competent authorities at the planning/consent stage with due regard to the necessity for environmental and biodiversity impact and appropriate assessments. The environmental aspects of the project will be appropriately assessed as part of the Bank's appraisal process.

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 publication of tender notices in the Official Journal of the EU, as and where required.