Release date: 13 December 2023
Promoter – Financial Intermediary
MVM ENERGETIKA ZRTLocation
Description
The operation concerns the purchase of Green Bonds to finance MVM's investments in renewable energy, electricity networks and clean transportation included in the company's green bond framework.
Objectives
The proposed operation consists of the purchase of one or several senior green bonds, the proceeds of which will finance new or existing investments in the following sectors in Hungary, as set out in the Promoter's green financing framework: renewable energy electricity generation, production of green hydrogen, transmission or distribution of electricity, storage of electricity or hydrogen. By the end of the allocation period, the issuer will have allocated a portion of the funds to an agreed amount of new eligible investments. The underlying projects are not known at this stage.
Sector(s)
- Energy - Electricity, gas, steam and air conditioning supply
Proposed EIB finance (Approximate amount)
EUR 350 million
Total cost (Approximate amount)
EUR 700 million
Environmental aspects
The schemes underlying the operation will fall under Annex I or II of the EIA-Directive 2011/92/EU, requiring either an EIA including public consultation, or screening by the national competent authority on the basis of Annex III of the same Directive to determine the need for an environmental impact assessment (EIA). Where and if applicable, the requirements of EU legislation, mainly the Environmental Impact Assessment Directive 2011/92/EU as amended by Directive 2014/52/EU, Birds Directive 2009/147/EC and Habitats Directive 92/43/EEC, will be verified during appraisal.
Procurement
The Bank will require the promoter to ensure that contracts for implementation of the underlying eligible project will be tendered in accordance with the applicable EU procurement legislation, i.e. Directives 2014/23/EU, 2014/24/EU or 2014/25/EU as well a s Directive 92/13/EEC or Directive 89/665/EEC as applicable and interpreted by the Court of Justice of the EU, with publication of tender notices in the EU Official Journal, as and where required.
Status
Approved - 19/12/2023
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).