Release date: 2 May 2022
Promoter – Financial Intermediary
ACCEPTABLE CORPORATE(S),SOCIETE GENERALELocation
Description
The project consists of an intermediated loan in support of small to mid-sized renewable energy projects in France and Italy, mainly, and in other EU countries.
Additionality and Impact
The project concerns the financing of a series of renewable energy generation plants (mostly onshore wind and solar PV), mainly located in France and Italy (other EU countries not excluded). This operation contributes to the Bank's lending priority objectives of climate action and environmental sustainability as well as to national and EU climate targets. By using an intermediated approach, the Bank will be able to support smaller projects that would otherwise not be possible to be reached directly.
Moreover, the operation supports the financial intermediary's sustainability strategy, by facilitating the lending in the sector and by diversifying its financing sources. The project addresses a number of market failures, from contributing to the reduction of carbon and air pollution, to improving energy markets efficiency and integration.
Objectives
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.
Sector(s)
- Energy - Electricity, gas, steam and air conditioning supply
Proposed EIB finance (Approximate amount)
EUR 400 million
Total cost (Approximate amount)
EUR 800 million
Environmental aspects
This project is intended to generate environmental benefits by supporting projects that help mitigate climate change. The Bank will assess the capacity and procedures of the financial intermediary (FI) to be selected to ensure compliance with national and European environmental and biodiversity regulations as well as its capacity to support the Bank's public disclosure policy, which aims to facilitate access by the public to environmentally-relevant information.
Procurement
The Bank will require the FI to ensure that contracts for the implementation of the projects shall be tendered in accordance with the relevant applicable EU procurement legislation (Directives 2014/23/EU, 2014/24/EU and 2014/25/EU, where applicable, as well as Directives 89/665/EEC and 92/13/EEC) as interpreted by the Court of Justice of the EU, with the publication of tender notices in the Official Journal of the European Union, as and where required.
Status
Signed - 19/10/2022
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).