Release date: 28 July 2015
Promoter – Financial Intermediary
TIWAG-TIROLER WASSERKRAFT AGLocation
Description
Construction of a new hydropower plant on the Upper Inn river
Objectives
The project will support EU energy policy, which favours a strong increase in renewable power production, and will help maintain the reliability of the electricity system. The project will to some extent contribute to covering peak demand as well as to regulating the electricity system.
The project is in line with the Bank's priority lending objectives related to renewable energy/energy efficiency and complies with the Bank's energy lending criteria.
Sector(s)
Proposed EIB finance (Approximate amount)
EUR 150 million
Total cost (Approximate amount)
EUR 472 million
Environmental aspects
The project falls under Annex II of Environmental Impact Assessment (EIA) Directive 2011/92/EU and it was screened in by national authorities and is subject to an EIA. An EIA has been performed in accordance with national legislation and its compliance with EU legislation will be checked during appraisal.
Procurement
The European Commission exempted the generation of electricity in Austria from public procurement provisions by Decision 2008/585/EC. The Bank will review the project's procurement procedures to ensure that its funds are used appropriately for the purchase of works, goods and services.
Status
Signed - 23/12/2015
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).