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Signature(s)

Amount
€ 150,000,000
Countries
Sector(s)
France : € 150,000,000
Energy : € 150,000,000
Signature date(s)
31/07/2024 : € 150,000,000
Link to source

Summary sheet

Release date
4 October 2024
Status
Reference
Signed | 31/07/2024
20230756
Project name
Promoter - financial intermediary
CEPAC ACTION POUR LE CLIMAT II FL
CAISSE D'EPARGNE CEPAC
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 350 million
EUR 467 million
Location
Sector(s)
  • Energy - Electricity, gas, steam and air conditioning supply
Description
Objectives

The project consists of an intermediated lending facility that will support predominantly private companies promoting small and mid-sized renewable energy projects in France.

The aim is to facilitate investments that support national and European targets related to renewable energy (RE) generation. As such, the project contributes to EU energy objectives, notably to make energy sustainable, secure and affordable.

Additionality and Impact

The Project will contribute to the timely deployment in the next years of renewable energy generation capacity in France, which will be key to meet the mid/long term national and EU energy objectives as well as the REPowerEU Action Plan. The Project will also support the EIB's priority lending objectives concerning renewable energy and will contribute fully towards the Bank's climate action objectives.


In terms of addressing market failures, the project will produce electricity from low carbon sources and thereby help to address the market failure of negative environmental externalities, through the reduction of carbon and air pollution.


On project quality, the project is supported by adequate capabilities / governance of the promoter. In terms of project results, it is expected to have a positive economic rate of return, considering the economic value of the electricity generated. Therefore, the project is expected to generate a positive broader social benefit by generating clean and renewable power at a cost (LCOE) reasonably below the cost alternatives in France.


The EIB's intervention will take the form of a funding line to BPCE, a well-known intermediary of EIB's support to the renewable energy sector in France. The funds will be intermediated through BPCE group's regional network, Caisse d'Epargne Provence-Alpes-Corse ("CEPAC"). CEPAC will on-lend the EIB funds at attractive financing conditions to eligible projects, thereby facilitating their implementation.


Based on the GDP proxy, around 59% of the financing volume is expected to be invested in cohesion priority regions.


Environmental aspects
Procurement

This operation will generate environmental benefits by supporting projects that help to mitigate climate change. CEPAC will ensure the projects' compliance with national and European environmental and biodiversity regulations as well as support the Bank's Public Disclosure Policy, which aims at facilitating access by the public to environmentally relevant information.

Final beneficiaries will be requested to comply with applicable national and EU Procurement Directives, as appropriate.

Milestone
Under appraisal
Approved
Signed
23 May 2024
31 July 2024
Link to source
Other links

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) - CEPAC ACTION POUR LE CLIMAT II FL
Publication Date
22 Oct 2024
Document language
Main Topic
Lending
Document Number
190820421
Document Focus
Environmental Information
Project Number
20230756
Sector(s)
Regions
Countries
Publicly available
Download now

General enquiries and comments

The EIB is committed to open communication and encourages constructive stakeholder input regarding its activities.
Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
Alternatively, the EIB can be contacted through its external offices.
Queries regarding details of a specific project, in particular when it is under appraisal by the EIB, should preferably be addressed directly to project promoters.

Media enquiries

Media-related enquiries can be addressed to the EIB Press Office. Please also visit our Media information section.

Complaints mechanism

Any complaint regarding alleged maladministration can be lodged via the EIB Complaints Mechanism. The European Ombudsman acts as an independent external accountability mechanism of the EIB.

Zero tolerance against fraud and corruption

The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Fraud and Investigation division. All complaints will be treated as strictly confidential and handled in line with the EIB investigation procedures and the Anti-Fraud Policy.

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