BFCM ACTION POUR LE CLIMAT

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.

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.

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.

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.

Final beneficiaries will be requested to comply with applicable national and EU Procurement Directives, as appropriate.