STEG - TUNISIA ITALY POWER INTERCONNECTION (EIB-20170028)

Regions
  • Europe and Central Asia
  • Middle East and North Africa
Geographic location where the impacts of the investment may be experienced.
Countries
  • Italy
  • Tunisia
Geographic location where the impacts of the investment may be experienced.
Financial Institutions
  • European Investment Bank (EIB)
International, regional and national development finance institutions. Many of these banks have a public interest mission, such as poverty reduction.
Project Status
Approved
Stage of the project cycle. Stages vary by development bank and can include: pending, approval, implementation, and closed or completed.
Bank Risk Rating
U
Environmental and social categorization assessed by the development bank as a measure of the planned project’s environmental and social impacts. A higher risk rating may require more due diligence to limit or avoid harm to people and the environment. For example, "A" or "B" are risk categories where "A" represents the highest amount of risk. Results will include projects that specifically recorded a rating, all other projects are marked ‘U’ for "Undisclosed."
Voting Date
Dec 13, 2023
Date when project documentation and funding is reviewed by the Board for consideration and approval. Some development banks will state a "board date" or "decision date." When funding approval is obtained, the legal documents are accepted and signed, the implementation phase begins.
Borrower
Societe Tunisienne de l'Electricite et du Gaz, TERNA - Rete Elettrica Nazionale SpA
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Energy
The service or industry focus of the investment. A project can have several sectors.
Investment Type(s)
Loan
The categories of the bank investment: loan, grant, guarantee, technical assistance, advisory services, equity and fund.
Investment Amount (USD)
$ 47.77 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported 45
Converted using 2023-11-02 exchange rate.
Loan Amount (USD)
$ 47.77 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported EUR 45 million
Converted using 2023-11-02 exchange rate.
Project Cost (USD)
$ 977.71 million
Value listed on project documents at time of disclosure. If necessary, this amount is converted to USD ($) on the date of disclosure. Please review updated project documents for more information.
Currency conversion note:
Bank reported EUR 921 million
Converted using 2023-11-02 exchange rate.
Primary Source

Original disclosure @ EIB website

Updated in EWS Dec 16, 2024

Disclosed by Bank Nov 2, 2023

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Project Description
If provided by the financial institution, the Early Warning System Team writes a short summary describing the purported development objective of the project and project components. Review the complete project documentation for a detailed description.

As stated by the EIB, the project concerns the implementation of a High Voltage Direct Current (HVDC) link interconnecting Tunisia and Italy across the Strait of Sicily and the associated connections to the respective national grids. The HVDC link is designed as a monopole with sea return, nominal capacity of 600 MW, DC voltage of 500 kV and a total route length of 224 km, of which 200 km offshore. The offshore route crosses Tunisian and Italian waters. The project has been designated as part of the Global Gateway.

The project aims at developing cross-border trade of electricity between the EU and Tunisia, facilitating the deployment of renewables, and improving the resilience of the Tunisian power system to demand/supply mismatches, thereby contributing to support stable economic growth and the transition to a low carbon energy system.

Investment Description
Here you can find a list of individual development financial institutions that finance the project.
Private Actors Description
A Private Actor is a non-governmental body or entity that is the borrower or client of a development project, which can include corporations, private equity and banks. This describes the private actors and their roles in relation to the project, when private actor information is disclosed or has been further researched.

As stated by Bloomberg, Terna - Rete Elettrica Nazionale SpA transmits electricity over the high-voltage and extra-high voltage grid in Italy. Through subsidiaries, the Company owns a substantial share of the national electricity transmission grid.

Societe Tunisienne de l'Electricite et du Gaz is the national producer and distributor of electricity and gas in Tunisia.

 

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
Societe Tunisienne de l'Electricite et du Gaz Client Energy contracts with TERNA - RETE ELETTRICA NAZIONALE SPA Client Energy

Contact Information
This section aims to support the local communities and local CSO to get to know which stakeholders are involved in a project with their roles and responsibilities. If available, there may be a complaint office for the respective bank which operates independently to receive and determine violations in policy and practice. Independent Accountability Mechanisms receive and respond to complaints. Most Independent Accountability Mechanisms offer two functions for addressing complaints: dispute resolution and compliance review.

Clients -

TERNA - Rete Elettrica Nazionale SpA:

Address: Viale Egidio Galbani, 70 - 00156 Roma
Phone: +39 06 83138111
Email: info@pec.terna.it
Website: https://www.terna.it/en

Societe Tunisienne de l'Electricite et du Gaz:

Address: 38 rue Kamel Attaturk, 1080 Tunis
Email: dpsc@steg.com.tn
Phone: (+216) 71 341 311
Fax: (+216) 71 330 174 / (+216) 71 349 981 / (+216) 71 341 401
Website: https://steg.com.tn/en/index.html

ACCESS TO INFORMATION

You can submit an information request for project information at: https://www.eib.org/en/infocentre/registers/request-form/request-form-default.htm

ACCOUNTABILITY MECHANISM OF EIB

The EIB Complaints Mechanism is designed to facilitate and handle complaints against the EIB by individuals, organizations or corporations affected by EIB activities. When exercising the right to lodge a complaint against the EIB, any member of the public has access to a two-tier procedure, one internal - the Complaints Mechanism Office - and one external - the European Ombudsman. A complaint can be lodged via a written communication addressed to the Secretary General of the EIB, via email to the dedicated email address: complaints@eib.org, by completing the online complaint form available at the following address: http://www.eib.org/complaints/form via fax or delivered directly to the EIB Complaints Mechanism Division, any EIB local representation office or any EIB staff. For further details, check: http://www.eib.org/attachments/strategies/complaints_mechanism_policy_en.pdf

When dissatisfied with a complaint to the EIB Complaints Mechanism, citizens can then turn towards the European Ombudsman. A memorandum of Understanding has been signed between the EIB and the European Ombudsman establishes that citizens (even outside of the EU if the Ombudsman finds their complaint justified) can turn towards the Ombudsman on issues related to 'maladministration' by the EIB. Note that before going to the Ombudsman, an attempt must be made to resolve the case by contacting the EIB. In addition, the complaint must be made within two years of the date when the facts on which your complaint is based became known to you. You can write to the Ombudsman in any of the languages of the European Union. Additional details, including filing requirements and complaint forms, are available at: http://www.ombudsman.europa.eu/atyourservice/interactiveguide.faces

How it works

How it works