Release date: 7 September 2023
Promoter – Financial Intermediary
BANQUE FEDERATIVE DU CREDIT MUTUELLocation
Description
The project consists of an intermediated lending facility to support small to mid-sized renewable energy projects in France, notably onshore wind, photovoltaic, geothermal, hydro, biomass and biogas.
Additionality and Impact
The project concerns the financing of a series of renewable energy generation plants (mostly onshore wind and solar PV), located in France. The financing of this operation contributes to the Bank's lending priority objectives on renewable energy as well as on climate action and environmental sustainability. Moreover, the operation supports the financial intermediary sustainability strategy, increasing its lending in the sector and diversifying its financing sources. The project addresses a number of market failures, from contributing to the reduction in carbon and air pollution, to improving energy markets efficiency and integration through participation in the wholesale markets.
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 350 million
Total cost (Approximate amount)
EUR 700 million
Environmental aspects
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 the EIB's public disclosure policy, that facilitates public access to environmentally-relevant information.
Procurement
Final beneficiaries will be requested to comply with applicable national and EU Procurement Directives, as appropriate.
Status
Signed - 18/12/2023
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).