11/13/2023 0 Comments Power converter for europe to us![]() ![]() ![]() The environmental and social due diligence identified that no National Environmental Impact Assessment was required either in Italy and Tunisia, and thus no relevant regulatory expertise procedure or review process by the specialised ministries and relevant governmental departments was triggered. EBRD offers financing that is not available in the market from commercial sources on reasonable terms and conditions for such a strategic public project. The additionality derives from the financing structure and instruments provided. EBRD Finance SummaryĪ sovereign-guaranteed loan of up to EUR 45 million to STEG to be provided alongside sovereign loans from EIB, KfW and the World Bank, and a grant from the EU's CEF. It was founded in 1962 (Decree-law N 62-8 dated 3 April1962), when the Tunisian Government decided to nationalise the generation, transmission, distribution, import and export of electricity and gas, entrusting these activities to STEG. STEG is Tunisia's 100% state-owned vertically integrated national electricity and gas utility company, and is under the supervisory of the Ministry of Industry, Mines and Energy. SOCIETE TUNISIENNE DE L'ELECTRICITE ET DU GAZ The Project will be in line with the Bank's Green Economy Transition (GET) approach. The Project will include a comprehensive policy dialogue package aimed at delivering structural change and contributing to the Tunisia's energy transition. It was included in the list of Projects of Common Interest in 2017 by the European Commission due to its strategic importance for the security and energy sustainability of the two countries and for the creation of a Mediterranean electricity network that connects North Africa with Europe, with a view to full market integration. The Project will contribute to the "Resilient" and "Green" transition qualities. Score to be confirmed at Final Review stage. ELMED will contribute to the grid stability and dispatching optimisation required for a better renewable energy integration and climate strategy delivery in the two markets that have ambitious renewable energy objectives. Project ObjectivesĮLMED will improve the integration, resilience and stability of electricity systems in Tunisia and Italy and further between North Africa and Europe in the future. In addition to the CEF grant, ELMED will be co-financed by EIB, KfW and the World Bank. A grant of EUR 307.6m from EU's Connecting Europe Facility ("CEF") will contribute to the project. The project includes converter stations and related infrastructure in each country financed by other lenders ("ELMED").ĮLMED will be operated and jointly owned by STEG and the Italian transmission system operator (TSO) Terna S.p.A. Provision of a sovereign guaranteed senior loan of up to € 45 million to Societe Tunisienne de l'Electricite et du Gaz ("STEG" or the "Company") to finance a 200-km 600 MW High-Voltage Direct Current (HVDC) submarine transmission cable connecting Tunisia and Italy.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |