Release date: 11 May 2011
Promoter – Financial Intermediary
Iberdrola SA
Location
Description
Research and development investments (mainly in Spain and UK) in relation to networks, renewables, technological innovation and others.
Objectives
The RDI programme of the promoter is targeting i) conventional energy generation, ii) energy transmission and distribution, iii) renewable energy as well as iv) energy systems. These RDI activities are aimed at generating additional welfare for the European consumers, since the project’s outcome should lead to i) reduced energy and renewable energy production and distribution costs, ii) increasing the European knowledge and technological base in renewable energy sources and technology as well as iii) improving the promoter’s environmental performance.
Sector(s)
Proposed EIB finance (Approximate amount)
EUR 200 million
Total cost (Approximate amount)
EUR 400 million
Environmental aspects
The project concerns investments in research and development that are expected to be carried out in existing facilities already authorised, in which case an EIA would not be required by EIA Directive 85/337/EC, amended by Directives 97/11/EC and 2003/35/EC. The outcome of the R&D project is expected to have positive impact on the environment, improving the environmental performance of the promoter thought the deployment of renewable energies, efficient power generation as well as optimisation of the power distribution. However, the Bank’s services will verify details, and especially the ones related to the location of the R&D facilities, during the appraisal.
Procurement
The promoter is a contracting entity and potentially falls under the Utilities Directive 2004/17/EC, in which case the promoter is required to tender works, supplies and services contracts following public procurement rules, including the publication in the Official Journal of the EU (OJEU) where appropriate. Details of the procedures applied by the promoter will be reviewed during the appraisal.
Status
Signed - 14/10/2011
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).