SAFRAN DECARBONISATION RDI PROGRAM

Promoter – Financial Intermediary

SAFRAN

Location

• France

Description

The project concerns the Promoter's investments in research, development and innovation (RDI) on innovative propulsion systems for next generation single-aisle airliners. It centres on four main pillars, namely: (i) engine efficiency, (ii) energy management, (iii) disruptive engine concepts for a wider adoption of low-carbon fuels as well as (iv) technology integration. The financed activities will be carried out primarily in France and will cover the period 2020-2024.

Objectives

The project aims at supporting the Promoter's long-term technology roadmap to drastically improve fuel efficiency of next generation aircraft and represents a step towards the more ambitious target of zero-emission flights by 2050.

Sector(s)

• Industry - Manufacturing

Proposed EIB finance (Approximate amount)

EUR 500 million

Total cost (Approximate amount)

EUR 1125 million

Environmental aspects

The project is expected to be carried out in existing facilities that will not change their already authorised scope due to the project. The need for an environmental impact assessment (EIA) as per directive 2011/92/EU amended by directive 2014/52 EU is therefore unlikely. The Bank's services will review the environmental aspects of the project during the due diligence process.

Procurement

The Promoter has been assessed by the EIB as being a private company not subject to EU rules on public procurement or concessions. However, if at the project appraisal, the EIB were to conclude that the Promoter is subject to EU public procurement legislation, then the Bank would duly inform the Commission Services and would require the Promoter to apply those rules.

Status

Signed - 4/03/2021