ANNOUNCEMENT 06 Feb 2017

On 06 February 2017, the EIB provided financing worth EUR 250 million (USD 266 million).

NUMBER OF INTERVENTIONS

2

  • 2 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

EIB, Project financing summary, 'Ellevio Distribution Network Investments', 06 February 2017.
https://www.eib.org/en/projects/loans/all/20150820

EIB, Project summary, 'Ellevio Distribution Network Investments', 06 February 2017.
https://www.eib.org/en/projects/pipelines/all/20150820

EIB, Financed projects list
https://www.eib.org/en/projects/pipelines/index.htm?q=&sortColumn=projectStatusDate&sortDir=desc&pageNumber=0&itemPerPage=25&pageable=true&language=EN&defaultLanguage=EN&yearFrom=2017&yearTo=2017&orCountries.region=true&orCountries=true&orSectors=true&orStatus=true

European Investment Bank. Press release. Sweden: EIB granted Ellevio a loan for network investment projects.
https://www.eib.org//en/press/all/2017-042-sweden-eib-granted-ellevio-a-loan-for-network-investment-projects

Inception date: 06 Feb 2017 | Removal date: open ended

Loan guarantee

The EIBs EUR 250 million (approx. USD 266 million) loan with Elevio signed on 06 February 2017 was backed by a guarantee from the European Fund for Strategic Investments (EFSI).

The EFSI is a joint initiative by the EIB and the European Commission to promote investment in Europe, acting as the main pillar of the Investment Plan for Europe. It provides first-loss guarantees enabling the EIB to invest in more and often riskier projects. The loan described above was issued under the EFSI and thus benefits from a full guarantee through the EU budget.

EFSI support does not fall under EU State Aid rules as it is meant as a tool to address 'market failures or sub-optimal investment situations'. However, the investment support does include favourable conditions in the form of public assumption of risk.

AFFECTED SECTORS

 
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AFFECTED PRODUCTS

 
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Inception date: 06 Feb 2017 | Removal date: open ended

State loan

On 06 February 2017, the European Investment Bank (EIB) and Elevio signed an agreement worth EUR 250 million (approx. USD 266 million) for the project Ellevio Distribution Network Investments from Sweden.

According to the project description issued by the EIB, The 3-years programme comprises investment schemes in electricity distribution networks. The investments focus on maintaining and improving security of supply, renewing aging assets, weather-proofing rural networks by replacing overhead lines with underground cables, preparing the network for receiving more wind power, and continuing installing smart meters..

The objective of the project is defined as following: The investments focus mainly on increasing the capacity and renewing the network in one of the larger cities, continuing to weather-proof the rural network and preparing the network to receive more distributed renewable energy..

A state act in the GTA database is assessed solely in terms of the extent to which its implementation affects foreign commercial interests. On this metric, the investment support granted here is discriminatory.

 
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