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Bankwatch Mail 48

Bankwatch Mail | 19 May, 2011 | Download PDF

On the occasion of the EBRD’s 20th anniversary, Bankwatch Mail is complemented by a range of personal reflections from people both within and beyond central and eastern Europe, people who have worked directly on issues related to the EBRD, or who have studied the bank’s impacts.


Vlora Thermo Power Plant, Albania – where is the electricity?

Briefing | 15 May, 2011 | Download PDF

The oil and gas-fired thermo-power plant in Vlora, Albania – in a tourism-dependent city and only 100 metres from the protected Narta lagoon – was financed by the EBRD, the European Investment Bank and the World Bank. After a slew of problems, including lack of proper public consultation, the plant is not actually working – two years after it was supposed to have been completed – and it is increasingly doubtful whether it will start to produce electricity any time soon.


Ukrainian transmission lines – a vehicle for dirty electricity to the EU

Briefing | 15 May, 2011 | Download PDF

The EBRD is and has been involved in a number of high voltage electricity transmission lines in Ukraine that eventually would lay the technical groundwork to export nuclear and coal-based electricity to the EU. In the Ukrainian electricity transmission field, the EBRD should focus its efforts on utilising the massive potential to increase the reliability and efficiency of Ukraine’s energy system through the modernisation of existing grid, especially low-voltage local grid below 110kV where power losses now are two times higher than average in the EU.


Are safety upgrades and lifetime extensions synonyms in the Ukrainian nuclear sector?

Briefing | 15 May, 2011 | Download PDF

In November 2010 the EBRD, together with the European Union, announced its involvement in the EUR 1.2 billion Nuclear Power Plant (NPP) safety upgrade project for Ukraine. While safety upgrades at first appear a positive initiative, this project makes sense only in the context of NPP lifetime extensions, otherwise there is no reason to finance costly upgrades for facilities that will anyway close in a couple of years. And though the project promoter clearly links these safety upgrades with lifetime extensions, the EBRD is reticent to do so.


EBRD and Sostanj Unit 6 – serious questions about EBRD project appraisal

Briefing | 15 May, 2011 | Download PDF

In 2010, the EBRD approved a EUR 100 million loan for the Sostanj lignite power plant unit 6 (TES 6) project with a further EUR 100 million syndicated to commercial banks. A recent report on the management of the project has important implications for the EBRD’s involvement and raises questions about the project appraisal process that led the EBRD to approve the project.