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    Reference: 20080672
    Release date: 12 January 2009

    Promoter – Financial Intermediary

    Renault

    Location

    Description

    The project concerns the investment in R&D and Innovation activities for: (i) the optimisation and further increase of efficiency in its current conventional technology powertrains; and (ii) the development of full electric vehicles.

    Objectives

    The project will contribute to extending the promoter’s knowledge and know-how in the field of conventional and full electric powertrains, and will support the accelerated introduction in the market of low-carbon-emission vehicles. It is expected to bring about positive environmental results in terms of reduction of fuel consumption and CO2 and other harmful emissions.

    Comments

    Loan foreseen under the European Clean Transport Facility (ECTF)

    Sector(s)

    Proposed EIB finance (Approximate amount)

    Up to EUR 400 million.

    Total cost (Approximate amount)

    Estimated at around EUR 1000 million.

    Environmental aspects

    The project concerns investments in research, development and innovation activities that will be carried out in existing facilities, already authorised. The project might include further investments in machinery, tooling and any additional civil works, which are still to be confirmed. In this regard, the Bank’s services will verify during the project’s due diligence whether the project falls under the EIA Directive 85/337/EC, amended by Directives 97/11/EC and 2003/35/EC, where an EIA would be required. Overall, the project is expected to have a neutral impact on the environment, while the commercial product of the activities will have a positive environmental impact, resulting in substantial reductions in terms of vehicle emissions and fuel consumption.

    Procurement

    Procurement is expected to be in line with EIB guidelines for private sector projects. The Bank’s services will verify details during the project’s due diligence.

    Status

    Signed - 24/03/2009

    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).

    Related tags

    France Industry