SKANSTE NZEB PROJECT

Promoter – Financial Intermediary

CAPITALICA ASSET MANAGEMENT UAB

Location

• Latvia

Description

The project concerns the construction of two A class compliant office buildings in Skanste area, Riga city.

Objectives

The construction of two nearly zero-energy buildings (NZEB) is a part of the Integrated Urban Development of the Skanste area. The project contributes to reduce energy use, GHG emissions and upgrade energy building standards in Latvia.

Sector(s)

• Services - Real estate activities

Proposed EIB finance (Approximate amount)

EUR 20 million

Total cost (Approximate amount)

EUR 62 million

Environmental aspects

Given the relative scale, location and nature of the works in built-up urban areas, all of the works are deemed not to have any significant negative environmental or social impact. Exceptionally, a work may fall under 2014/52/EU amending the Environmental Impact Assessment (EIA) Directive 2011/92/EU). In these cases the Bank will require the promoter to act according to the provisions of the aforementioned Directive as transposed into national law leaving it to the competent authority to decide in line with the Directive whether an EIA procedure is needed or not. The Bank will review relevant permits, public consultations and authorization processes during appraisal, including mitigation/compensation measures to be taken and any potential effects on nature conservation sites (Habitats Directive 92/43/EEC and Birds Directive 2009/147/EC). Through the project, new NZEB buildings, as per the requirements of the Energy Performance Building Directive (EPBD 2018/844/EU amending the 2010/31/EU [Article 9(1)]), will be constructed which will, after completion, reduce energy consumption and pollutant emissions compared to the business-as-usual scenario (in compliance with the current regulation). The EPBD requires that from 2019 onwards, all public buildings and from 2021 all buildings will need to be NZEB.

Procurement

The promoter has been assessed by the EIB as being a private company not being subject to EU rules on public procurement or concessions. However, if after the project appraisal, the EIB were to conclude that the promoter is after all subject to EU public procurement legislation (Directive 2004/17/EC)], then the Bank would require the promoter to ensure that contracts for the implementation of the project have been tendered in accordance with the relevant applicable EU procurement legislation ( Directive 2004/17/EC, where applicable, as well as Directive 92/13/EEC) as interpreted by the Court of Justice of the EU, with publication of tender notices in the EU Official Journal, as and where required.

Status

Under appraisal - 26/09/2019