Summary sheet
The project consists of an intermediated lending facility in support of small to mid-sized renewable energy projects in France (onshore wind, photovoltaic, geothermal, biomass and biogas).
This project supports national and European targets related to renewable energy (RE) generation and it will hence contribute to EU energy objectives, notably security of energy supply and tackling climate change.
The EIB's intervention will take the form of a funding line to La Banque Fédérative du Crédit Mutuel to support the development of the renewable energy sector in France. La Banque Fédérative du Crédit Mutuel will on-lend the EIB funds at attractive financing conditions to eligible projects, thereby facilitating their implementation.
The Project is expected to return a positive economic rate of return and broader social benefits by generating clean and renewable power and supporting the development of cost-effective solutions to reduce emissions while contributing to the system's security of supply. In addition, the Project contributes to economic growth and qualified employment in the green sectors. The renewable energy projects are expected to benefit from market-based instruments, and thereby will contribute to the policy objective of supporting the market integration of renewable energy projects.
The financing of this project is in line with the Bank's lending priority objectives on Energy (Renewable Energy) as well as the transversal objectives on Climate Action (mitigation), Environmental Sustainability (Pollution Prevention Control) and Social and Economic Cohesion.
The rating of the RE projects is very good, as they are expected to implement mature renewable energy technologies addressing a high degree of market integration (by participating in the wholesale energy market). The operation is therefore eligible under Article 309 (c) common interest in energy (renewable energy) and environment (tackling climate change).
The operation will contribute to strengthening the security and resilience of EU energy infrastructure by applying cybersecurity-related eligibility criteria to financed solar installations.
The aim is to generate environmental benefits by supporting projects that help mitigate climate change. The EIB will assess the capacity and procedures of the financial intermediary to ensure compliance with the national and European environmental and biodiversity regulations, as well as their capacity to support theEIB's public disclosure
Final beneficiaries will be requested to comply with applicable national and EU Procurement Directives, as appropriate