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Signature(s)

Amount
€ 150,000,000
Countries
Sector(s)
Finland : € 150,000,000
Energy : € 150,000,000
Signature date(s)
21/12/2018 : € 150,000,000
Link to source

Summary sheet

Release date
3 October 2016
Status
Reference
Signed | 21/12/2018
20150336
Project name
Promoter - financial intermediary
ELENIA DISTRIBUTION NETWORK INVESTMENT PROGRAMME
ELENIA OY
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 150 million
EUR 333 million
Location
Sector(s)
  • Energy - Electricity, gas, steam and air conditioning supply
Description
Objectives

The project concerns a replacement programme focused on improving security of power supply for electricity networks in central Finland. The project includes the refurbishment of ageing medium and low-voltage network infrastructure and investments to weather-proof and increase storm resilience of the network, and to improve power quality.

Distribution network modernisation and modification to increase security of electricity supply

Environmental aspects
Procurement

The project includes some facilities that fall under Annex II of the Environmental Impact Assessment (EIA) Directive (2011/92/EU), which requires the competent national authority to determine the need for an EIA. The impact that can be typically expected for some schemes relate to visual impact, vegetation clearance, impact on flying vertebrates, electromagnetic fields, noise nuisance, and disturbances during construction. Medium voltage (MV) and low voltage (LV) schemes are normally expected to have minimal or no environmental impact. According to the promoter, an environmental study could be required, but for this type of investments the promoter has never conducted a full EIA study. The appraisal will focus on the promoter's environmental capacity and work procedures.

The Bank will require the promoter to ensure that contracts for the implementation of the project have been or shall be tendered in accordance with the relevant applicable EU procurement legislation (i.e. Directives 2014/23/EU, 2014/24/EU and/or 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 publication of tender notices in the Official Journal of the EU, as and where required.

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).

Documents

Environmental and Social Data Sheet (ESDS) - ELENIA DISTRIBUTION NETWORK INVESTMENTS
Publication Date
13 Mar 2019
Document language
Main Topic
Lending
Document Number
72001862
Document Focus
Environmental Information
Project Number
20150336
Sector(s)
Regions
Countries
Publicly available
Download now
Environmental and Social Completion Sheet (ESCS) - ELENIA DISTRIBUTION NETWORK INVESTMENTS
Publication Date
23 Dec 2021
Document language
Main Topic
Lending
Document Number
143043794
Document Focus
Environmental Information
Project Number
20150336
Sector(s)
Regions
Countries
Publicly available
Download now

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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.
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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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