Publications

Public finance can play a role in ensuring nuclear safety and the transparency and accountability of government decisions related to nuclear energy by encouraging governments to fully apply Espoo procedures at earlier stages of the programme or plan and to provide more information about loan conditionalities. However, only a limited positive effect has been seen in Ukraine due in part to a lack of transparency by the financial institutions and to the selective application of convention requirements.

In November 2011 the European Bank for Reconstruction and Development approved a EUR 65 million credit to ELEM, a Macedonian state-owned company for the construction and management of the hydro power plant “Boskov Most”. Around 80% of the project falls into the territory of the “Mavrovo” National Park.

The Georgian company JSC Dariali Energy has requested a loan of up to USD 80 million from the EBRD for the 108 MW Dariali hydropower (HPP) project. The project involves the construction of a derivation-type HPP on the Tergi river in the municipality of Kazbegi. The project will divert water from the town of Stepatsminda towards the powerhouse close to the border with Russia, leaving eight kilometres of river without a sufficient amount of water.

During the Cohesion Policy programming process, we have observed that environmental sustainability is not being appropriately included in the Operational Programmes and Partnership Agreements. This info-kit for those involved in the programming therefore offers suggestions for environmental and climate mainstreaming measures.

Due to the Energy Community Ministerial Council's decision to apply the EU's Industrial Emissions Directive, new combustion plants in the Energy Community countries have to be planned with the IED taken into consideration. Currently, there are a number of investments in new combustion plants in progress which would not comply with the new requirements if they are realised as planned. It follows, that these combustion plants would be in breach of the acquis on environment after 1 January 2018, in other words by the time they start operation.

These policy recommendations propose mechanisms for the mobilisation of public-private financing for community based sustainable energy projects in Bulgaria, the Czech Republic, Hungary, Poland, Latvia and Slovakia.