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Signature(s)

Amount
€ 74,200,000
Countries
Sector(s)
Spain : € 74,200,000
Energy : € 74,200,000
Signature date(s)
21/09/2012 : € 17,600,000
15/06/2012 : € 28,300,000
21/07/2011 : € 28,300,000
Link to source

Summary sheet

Release date
22 July 2008
Status
Reference
Signed | 21/07/2011
20080273
Project name
Promoter - financial intermediary
La Boga II Wind Power Project
Energia y Recursos Ambientales & Grupo Inverduero
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
Up to EUR 100 million.
Estimated to be around EUR 200 million.
Location
Sector(s)
Description
Objectives

The three wind farm sub-projects composing La Boga II are located in the autonomous region of Castilla y León, a convergence region of Spain.

 

The development of renewable energy sources is a priority of the EU. The EU Council adopted a binding target of 20% share of renewable energies in overall EU energy consumption by 2020 and the project contributes to this objective. The development of renewable energy contributes to several key objectives of the EU: security of supply, environment, particularly fight against climate change and international competitiveness (to put EU industry at the forefront of the rapidly growing low-carbon technology sector). Additionally, the investments included in the operation are located in a “Growth effect region (phasing in)”.

Environmental aspects
Procurement

The wind farms fall under Annex II of Directive 85/337/EC, as amended by Directives 97/11/EC and 2003/35/EC. Part or all of the project’s wind farms may therefore be subject to an EIA. The details of the environmental procedures followed, the results of EIAs and public consultation (if applicable), and the mitigating measures to be applied, will be reviewed during appraisal.

The promoter is not subject to EU Procurement Directives. In line with its principles and its statute the Bank will however ensure that suitable procurement procedures, including an appropriate selection of works, goods and services offered at competitive prices, will be applied by the promoter and/or the special purpose companies. Details will be verified during appraisal.

Link to source

Disclaimer

Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

General enquiries and comments

The EIB is committed to open communication and encourages constructive stakeholder input regarding its activities.
Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
Alternatively, the EIB can be contacted through its external offices.
Queries regarding details of a specific project, in particular when it is under appraisal by the EIB, should preferably be addressed directly to project promoters.

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Complaints mechanism

Any complaint regarding alleged maladministration can be lodged via the EIB Complaints Mechanism. The European Ombudsman acts as an independent external accountability mechanism of the EIB.

Zero tolerance against fraud and corruption

The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Fraud and Investigation division. All complaints will be treated as strictly confidential and handled in line with the EIB investigation procedures and the Anti-Fraud Policy.

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