EIB-CDC PLATFORM - CLEAN BUSES

The project consists in financing an Investment Platform for the renewal of zero-emission bus fleets promoted and co-financed by the French National Promotional Institution (NPBI) Caisse des Dépôts et Consignations (CDC). The Platform's main goal is to support French public authorities and accelerate their transition from existing conventional bus fleets (internal combustion engine, mainly diesel) to zero emission or ultra-low emissions busses, starting with those in urban areas. The Platform will provide loans to French public authorities with a remuneration system based upon the energy savings derived from the use of electric buses. The project is part of a second wave of operations included in the Cleaner Transport Facility (CTF), a joint initiative by the European Commission and the EIB launched in December 2016. The CTF aims at accelerating the deployment of the Alternative Fuels Directive to step up the pace towards low emissions mobility.

The main goal of the project is to accelerate the transition towards low emission public transport in accordance to EU Critical Dilution Volume (CDV) regulation and the French Energy Transition Act ("loi relative à la transition énergétique pour la croissance verte - LTCEV). The project is expected to generate a substantial level of environmental benefits in terms of reduced air pollution, greenhouse gas emissions and noise, in particular in urban areas.

The EIB will require the Promoter to ensure that its underlying investments respect the relevant EU Directives and the EIB Environmental and Social Standards.The proposed investments of electric buses and charging infrastructure is not subject to environmental impact assessment processes under either Annex I or Annex II of the Environmental Impact Assessment (EIA) Directive 2014/52/EU amending the EIA Directive 2011/92/EC; therefore no EIA will be required for those components. However, in the case an infrastructure component were to be screened in under Annex II, the Bank will require the compliance with the requirements of the EIA Directive and to be informed of the screening decision from Competent Authority. The project is expected to have an overall positive environmental impact on the environment. The project should contribute to reducing Greenhouse Gas (GHG) and air pollutant emissions.

The EIB will require the Platform to take all the requisite measures to ensure that procurement procedures carried out by the final beneficiaries for the projects that the Bank finances will comply with the relevant EU procurement legislation (Directive 2014/24/EU and/or 2014/25/EU as well as Directives 89/665/EEC or 92/13/EEC) as interpreted by the Court of Justice of the EU, with publication of tender notices in the EU Official Journal, as and where required.