PROJECT SOHO - SOLAR PV

Promoter – Financial Intermediary

IGNIS DESARROLLO SLU

Location

• Spain

Description

The project consists of the construction and operation of six photovoltaic PV plants in Spain, totalling circa 297 MWp.

Objectives

The project will contribute to progressing on the national and EU energy and climate goals, namely helping to decarbonise electricity production in the EU and to decrease the reliance on fossil fuels. Some of the plants are located in EIB Cohesion Priority Regions, and contribute to developing less-developed and transition regions.

Sector(s)

• Energy - Electricity, gas, steam and air conditioning supply

Proposed EIB finance (Approximate amount)

EUR 79 million

Total cost (Approximate amount)

EUR 193 million

Environmental aspects

This project is intended to generate environmental benefits by supporting ground based solar PV plants that help mitigate climate change. The individual plants and most of the ancillary infrastructure fall under Annex II of the EIA Directive 2011/92/EU amended by the Directive 2014/52/EU. Overhead transmission lines for the interconnection of the schemes to the grid, if falling under the Annex I due to their technical characteristics, will be expected to be subject in all cases to an environmental impact assessment (EIA) process. During appraisal, the Bank will assess the capacity and capability of the promoter to implement the Project and its compliance with applicable EU Directives.

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 at the project appraisal, the EIB were to conclude that the promoter is subject to the EU public procurement legislation then the Bank would require the promoter to apply those rules.

Status

Under appraisal