Release date: 15 June 2009
Promoter – Financial Intermediary
EDP - Energias De Portugal, S.A.
Location
Description
The proposed project consists in constructing and operating a 425 MWe Combined Cycle Gas Turbine (CCGT) unit Soto 5 of efficiency 58%. The unit will be built at Soto de Ribera, Asturias Province, in North West Spain, 8 km from Oviedo, on an established industrial site, next to the already operating similar generation facility Soto 4.
Objectives
The project is located in a convergence (phasing out) region and, due to the deployment of advanced gas-fired combined cycle technology, will result in efficient electricity generation with lower environmental impact than coal/lignite power stations. It will contribute to meeting growing demand thus increasing energy security and diversify power generation at Iberian and European levels.
Sector(s)
Proposed EIB finance (Approximate amount)
Estimated at EUR 140 million.
Total cost (Approximate amount)
Estimated at EUR 280 million.
Environmental aspects
Due to its capacity (plant over 300 MWth), the project is subject to the Annex 1 of the EIA Directive (85/337/EC and amendments) and was required to undergo a full Environmental Impact Assessment. The EIA covering both units Soto 4 (already commissioned) and Soto 5 was approved in December 2005 and a construction permit for both units was granted by the competent authority. The details of the EIA, results of public consultation and proposed mitigation measures as well as investment’s potential impact on nature conservation sites, will be reviewed during appraisal.
Procurement
The project promoter has confirmed that it is subject to the EU legislation on procurement. The contract was announced in the OJEU dated 25/10/2002. Details of the procurement procedure will be fully investigated during appraisal.
Status
Signed - 22/07/2010
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).