ELECTRICITY NETWORK UPGRADE FOR INDUSTRIAL SITES (EIB-20220338)

Regions
  • Europe and Central Asia
Geographic location where the impacts of the investment may be experienced.
Countries
  • Hungary
Geographic location where the impacts of the investment may be experienced.
Specific Location
Perkáta, Göd, Sárbogárd, Dunaújváros, Iváncsa, Zugló, Biatorbágy, Budaörs, Vác
Whenever identified, the area within countries where the impacts of the investment may be experienced. Exact locations of projects may not be identified fully or at all in project documents. Please review updated project documents and community-led assessments.
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
Sep 12, 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
Hungarian Transmission System Operator (MAVIR), E.ON Dél-dunántúli, ELMU Hálózati
A public entity (government or state-owned) provided with funds or financial support to manage and/or implement a project.
Sectors
  • Energy
  • Industry and Trade
  • Infrastructure
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)
$ 96.78 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 90
Converted using 2023-09-12 exchange rate.
Loan Amount (USD)
$ 96.78 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 90 million
Converted using 2023-09-12 exchange rate.
Project Cost (USD)
$ 132.26 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 123 million
Converted using 2023-09-12 exchange rate.
Primary Source

Original disclosure @ EIB website

Updated in EWS Oct 15, 2023

Disclosed by Bank Aug 17, 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 will strengthen and expand the transmission and distribution networks of the three project promoters, including investments in electricity transmission and distribution infrastructure, with voltage levels ranging from 132 kV to 400 kV.

Among others, the project will cater additional power requirements of two battery manufacturing facilities, located in the less developed regions of Hungary. In detail, one is located at an existing industrial site (Göd) and another at a greenfield industrial site (Iváncsa).

The schemes included in the project are the following -

MAVIR:
(1) installation of one 400/132 kV transformer and associated 400 kV and 132 kV
switchgear in the existing Perkáta substation;
(2) construction of a new 400/132 kV substation at Göd-Kelet;
(3) short turn-in-turn-out connections to Göd-Kelet substation from three existing 400 kV
and 132 kV overhead lines (2.7 km).

E.ON Dél-dunántúli:
(4) construction of three new 132 kV overhead lines between Perkáta and Iváncsa (14.8
km), and Sárbogárd - Dunaújváros OVIT and Perkáta - Dunaújváros Dél (1.6 km);
(5) construction of a new 132 kV switching station at Iváncsa.

ELMU Hálózati:
(6) refurbishment of three 132 kV overhead lines Bicske Dél - Huvösvölgy (31 km),
Bicske Dél – Biatorbágy (18.7 km), and Biatorbágy – Budaörs (5 km);
(7) splitting of the existing 132 kV Göd - Vác line (0.5 km);
(8) installation of a 132 kV cable between Fót and Mátyásföld (10 km);
(9) installation of 132 kV equipment in the existing Zugló and Göd substations.

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.

Mavir Ltd. operates as an independent transmission operator in Hungary.

As stated by Bloomberg, E.ON is one of Europe's largest operators of energy networks and energy infrastructure and a provider of innovative customer solutions for some 51 million customers. The company's operations are energy networks and customer solutions.

Private Actor 1 Private Actor 1 Role Private Actor 1 Sector Relation Private Actor 2 Private Actor 2 Role Private Actor 2 Sector
- - - - E.ON SE Parent Company Energy
- - - - MAVIR HUNGARIAN ELECTRICITY INDUSTRIAL PLATING SYSTEM LTD 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.

No contacts available at the time of disclosure.

Parent Company - E.ON Hungary:

Phone: +36 (0) 6 52 512 400 (from Hungary) / +36 52 512 400 (from outside Hungary)
Website: https://www.eon.hu/hu/lakossagi.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

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