LEF - ICCO Energy Efficiency Project

Overview
Project Summary Document
Environmental and Social Documentation
Procurement
Complaints

Project ID 44317

Status Cancelled

Location

Romania

Business Sector

Energy

Notice Type

Private

Project ID 44317

Status Cancelled

Location

Romania

Business Sector

Energy

Notice Type

Private

Environmental Category

Disclosure date

15 Apr 2013

As per section 1.4.2 (iii) of the Directive on Access to Information: "For Projects approved by Bank management where the Board of Directors has delegated the approval authority, the PSD shall be disclosed at the start of the relevant no-objection notification period to a member country of the Bank in accordance with Article 13 (iii) of the Agreement Establishing the EBRD."

Translated version of this PSD: Romanian

Project Description

The EBRD is considering providing a loan of up to EUR 5.3 million to ICCO SOLAR ENERGY SRL SPV (”ICCO” or the “Company”), a subsidiary of ICCO ENERG SRL, a limited liability company focused on the distribution and supply of energy to industrial consumers in Romania.

The loan will be used to finance the construction of a dedicated photovoltaic (“PV”) power plant to supply electricity to SC RAJA SA Constanta (“RAJA”), a regional water utility providing water and wastewater services in Constanta County in Romania under a long term electricity supply contract awarded by RAJA through competitive tender. The investment programme will implement smart grid solutions, allowing for substantial energy efficiency improvements, and will enable the distribution grid to connect new renewable energy producer.

Transition Impact

The investment will focus on the energy production from renewable sources expected to substantially improve the operational efficiency of RAJA by cutting energy costs. Such initiative, aimed at reducing operational costs, is expected to provide positive demonstration effect for other water utilities in the country.

The Project will also provide demonstration of the benefits arising from the cooperation between private and public companies, as the regional water supply company will be receiving renewable energy and thus be able to increase its environmental and energy sustainability.

The Client

ICCO SOLAR ENERGY SRL SPV a newly established company set up by SC ICCO ENERG SRL, the winning bidder of electricity supply contract selected through the competitive tender held by RAJA.

EBRD Finance

Up to EUR 5.3 million.

Project Cost

Up to EUR 7.5 million.

Environmental Impact

The proposed project has been categorised B in accordance with the 2008 EBRD Environmental and Social (E&S) Policy, as the potential impacts are expected to be site specific and readily identifiable and addressed through mitigation measures.

The environmental and social due diligence for the project, which is on-going and includes an independent third party environmental and social audit to assess ICCO’s management capacity and systems to manage environment, health, safety and labour issues in its operations and an analysis of the potential (future) E&S impacts and benefits. It will also assess ICCO’s ability to carry out the Project in compliance with the Bank’s Performance Requirements.

An Environmental and Social Action Plan (ESAP) will be prepared for the project, and a Stakeholder Engagement Plan will be developed that will include a grievance mechanism and information on environmental and social performance and a summary of the agreed Action Plan will be released to stakeholders.

This PSD will be updated when the results of due diligence are known.

Technical Cooperation

None.

Company Contact

Mrs. Raluca Dumitru
500059 Brasov 3 Spicului street

Tel:+40-268-401267
Fax:+40-268-401266
www.icco.ro

Transition impact

ETI Score:30

PSD last updated

21 Jan 2019

Business opportunities

For business opportunities or procurement, contact the client company.

For state-sector projects, visit EBRD Procurement: Tel: +44 20 7338 6794
Email: procurement@ebrd.com

General enquiries

EBRD project enquiries not related to procurement:
Tel: +44 20 7338 7168
Email: projectenquiries@ebrd.com

Public Information Policy (PIP)

The PIP sets out how the EBRD discloses information and consults with its stakeholders so as to promote better awareness and understanding of its strategies, policies and operations. Please visit the Public Information Policy page below to find out how to request a Public Sector Board Report.
Text of the PIP

Environmental and Social Documentation is not available for this project.

Selected procurement notices related to this project may be shown below. Further procurement opportunities related to this and other projects, if available, maybe be viewed in the EBRD Procurement Portal.

The EBRD's Environmental and Social Policy (ESP), Access to Information policy (AIP) and Project Accountability Policy (PAP) enable sound and sustainable development in its projects. The Independent Project Accountability Mechanism (IPAM) deals with complaints about environmental, social and disclosure matters related to the Bank’s investments.

No complaints about this project have been made so far.

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