Search En menu en ClientConnect
Search
Results
Top 5 search results See all results Advanced search
Top searches
Most visited pages

Signature(s)

Amount
€ 76,000,000
Countries
Sector(s)
Cyprus : € 76,000,000
Energy : € 76,000,000
Signature date(s)
17/12/2020 : € 76,000,000
Link to source

Summary sheet

Release date
7 February 2020
Status
Reference
Signed | 17/12/2020
20190376
Project name
Promoter - financial intermediary
EAC VASILIKOS CCGT UNIT 6
ELECTRICITY AUTHORITY OF CYPRUS
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 76 million
EUR 152 million
Location
Sector(s)
  • Energy - Electricity, gas, steam and air conditioning supply
Description
Objectives

Installation of a new Combined Cycle Gas Turbine (CCGT) at Vasilikos Power Station.

The new CCGT will ensure security and flexibility of electricity supply, in the context of an increasing roll-out of renewable energy sources in Cyprus.

Environmental aspects
Procurement

Based on its technical characteristics, the Project falls under Annex II of the Environmental Impact Assessment Directive 2014/52/EU amending the Environmental Impact Assessment (EIA) Directive 2011/92/EU. An EIA has been submitted for the plant and positive feedback has been obtained from the relevant competent Authority. Town Planning Permit, Building Permit and Construction License have been granted by the relevant competent Authorities. The promoter has indicated that no environmental and social issuesi or concerns have arisen to date. Emissions from the plant will be in line with the relevant EU directive requirements.

The Promoter has to ensure that contracts for the implementation of the project will be tendered in accordance with the relevant applicable EU procurement legislation, 2014/25/EU or 2004/17/EC, where applicable, as well as Directive 92/13/EEC or Directive 89/665/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.

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).

Documents

Environmental and Social Data Sheet (ESDS) - EAC VASILIKOS CCGT UNIT 6
Publication Date
24 Nov 2020
Document language
Main Topic
Lending
Document Number
130185269
Document Focus
Environmental Information
Project Number
20190376
Sector(s)
Regions
Countries
Publicly available
Download now
scoreboard - EAC VASILIKOS CCGT UNIT 6
Publication Date
8 Feb 2021
Document Language
English
Main Topic
lending
Document Number
137305639
Document Focus
EFSI legal requirements
Document Type
Scoreboard
Project Number
20190376
Last update
8 Feb 2021
Sector(s)
Energy
Countries
Cyprus
Publicly available
Download now

News & Stories

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.

Media enquiries

Media-related enquiries can be addressed to the EIB Press Office. Please also visit our Media information section.

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.

Related publications