22 May 2023
Promoter – Financial Intermediary
The project concerns the renovation and upgrading of one of the main buildings on the Campus of Paris-Saclay, located in the south of Paris.
Additionality and Impact
The Project creates positive externalities which generate economic returns to society that exceed those to the individuals and the operator. Therefore, the use of public financing is justified to ensure investment levels that are socially optimal. The Project also addresses a market failure with regard to the performance of early-stage research and development activities, for which the operator cannot capture sufficient financial benefits,, justifying public intervention.
CentraleSupelec can only borrow from EIB and CDC. EIB offers a financing with long tenor and grace period, in addition to an affordable pricing.
The implementation of the Campus development programme will assist Centrale Supelec to meet its strategic objective to strengthen its position as a higher education institution of international reputation by increasing the quality of the learning facilities and by providing additional space for its growth ambitions. The expected benefits of the project include well-trained, entrepreneurial graduates, PhD holders and executives as well as expanded research capacity in engineering studies.
Proposed EIB finance (Approximate amount)
EUR 45 million
Total cost (Approximate amount)
EUR 127 million
Universities are not specifically mentioned in the Environmental Impact Assessment (EIA) Directive 2011/92/EU (amended by Directive 2014/52/EU), though the project is covered by Annex II of the directive in relation to urban development. The EIB's services will verify the screening decision of the competent authority during appraisal and whether an EIA is required. It is expected that the project will have positive social benefits as education is an element of social cohesion. The public buildings will be required to meet at least the minimum national targets concerning energy efficiency. The design energy performance of the buildings and any specific related targets to be met will be verified during appraisal.
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 after the project appraisal the EIB were to conclude that the promoter is after all subject to EU public procurement legislation, then the Bank would require the promoter to ensure that contracts for the implementation of the project will be tendered in accordance with the relevant applicable EU procurement legislation (Directive 2014/24/EU where applicable as well as Directive 92/13/EEC or Directive 89/665/EEC) as interpreted by the Court of Justice of the EU, with publication of tender notices in the Official Journal of the EU, as and where required.
Signed - 29/11/2023