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Signature(s)

Amount
€ 800,000,000
Countries
Sector(s)
France : € 800,000,000
Energy : € 800,000,000
Signature date(s)
24/12/2021 : € 400,000,000
18/02/2022 : € 400,000,000

Summary sheet

Release date
13 September 2021
Status
Reference
Signed | 24/12/2021
20210554
Project name
Promoter - financial intermediary
ENEDIS GREEN ELECTRICITY DISTRIBUTION NETWORK
ENEDIS
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 800 million
EUR 1672 million
Location
Sector(s)
  • Energy - Electricity, gas, steam and air conditioning supply
Description
Objectives

ENEDIS' energy transition investments in its electricity distribution network during the period 2022-2024.

The project comprises the following components: - distribution network investment to facilitate the integration of renewable capacity; - distribution network investment to connect around 60,000 public charging points for electric vehicles.

Additionality and Impact

The programme comprises electricity distribution grid investment in France with the purpose to connect new renewable generation capacity and Electric Vehicle charging stations to the low voltage and medium voltage levels. The programme is consistent with European Energy and Climate targets and France Energy Transition strategy and pluriannual program for Energy (PPE). The programme will enable the integration of decentralised renewable generation and to the electrification of the transport sector, thus addressing the market failure associated with climate externality and air pollution of the electricity and transport sector, small scale decentralized energy system and network effects of the deployment of EV charging stations.

The investment Programme will ensure the connection of 160 000 decentralised renewables and will support the network investment needed for roll-out of c. 74 000 charging points in new buildings, public charging stations and stations for public transport, thus contributing to the deployment a dense network of charging stations across France. The quality of the Programme is reinforced by its contribution to the economic activity in cohesion regions. The programme will result in very good economic and social benefits. The Promoter is an experienced operator of electricity distribution networks with a sound project management structure. In line with the EU Taxonomy, electricity grid infrastructure in Europe is considered eligible for climate change mitigation.


The financing of the EIB is functional to enabling the ambitious investment plan that the Promoter foresees as fundamental for the transition to a decarbonised economy. The EIB contribution materialises in terms of diversification of sources of funds, attractive financing conditions, and signalling to markets.

EIB long-term financing complements the Borrower's green bond program and own funds in funding a project that is part of a substantial capital expenditure program in support of the energy transition. The Bank's customizable loan terms and long-tenors accommodate the long implementation horizon and align with the useful life of the asset financed. In addition to a moderate financial advantage, which lowers the cost of the Project, the Bank's lending provides added flexibility and diversification to the borrower's treasury. While no specific co-financing is foreseen for this Project, the Bank's credentials support the Borrower's credibility as a green issuer.

Environmental aspects
Procurement

The project includes components that fall under Annex II of the EIA Directive (2011/92/EU), which requires the competent national authority to determine the need for an environmental impact assessment (EIA). The impacts that can be typically expected for some schemes relate to visual impact, vegetation clearance, collision and electrocution of flying vertebrates, electromagnetic fields, noise nuisance, and disturbances during construction, as well as the possible impacts on protected fauna and flora (Habitats 92/43/EC and Birds 2009/147/EC). The environmental and social due diligence will follow the programme lending approach according to the EIB's procedures and standards. It will focus on the Promoters' capacity to implement the project in line with EIB environmental and social standards and requirements.

The Bank will require the Promoter to ensure that contracts for implementation of the project have been or will be tendered in accordance with the applicable EU procurement legislation Directive 2014/25/EU as well as Directive 92/13/EEC (amended by 2007/66/EU) as interpreted by the Court of Justice of the EU, with publication of tender notices in the Official Journal of the EU, as and where required.

Disclaimer

Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).

Documents

Environmental and Social Data Sheet (ESDS) - ENEDIS GREEN ELECTRICITY DISTRIBUTION NETWORK
Publication Date
25 Nov 2021
Document language
Main Topic
Lending
Document Number
149922538
Document Focus
Environmental Information
Project Number
20210554
Sector(s)
Regions
Countries
Publicly available
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