Release date: 7 November 2011
Promoter – Financial Intermediary
Electricity Authority of Cyprus (EAC)
Location
Description
The project concerns the phase IV of the extension of the Vasilikos Power Station in Cyprus, includingthe installation of a 220 MWe CCGT (Combined Cycle Gas Turbine) power plant to run on distillate fuel oil with planned conversion to natural gas operation when gas becomes available on Cyprus.
Objectives
Construction of a combined-cycle gas turbine electricity generator in Cyprus.
Sector(s)
Proposed EIB finance (Approximate amount)
Up to EUR 130 million
Total cost (Approximate amount)
EUR 260 million
Environmental aspects
Due to its capacity (plant over 300 MWth), the project is subject to the Annex I of the EIA Directive (85/337/EC and amendments) and was required to undergo a full Environmental Impact Assessment. The EIA study found the project’s impact on environment acceptable and the environmental permit was granted by the competent authorities in 2006.
Procurement
The project is subject to the EU legislation on procurement (Directive 2004/17/EC) and the tender and its results were announced in the Official Journal of the EU.
Status
Signed - 8/03/2012
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).