The implementation of this programme has been formalised by the signing of a tripartite memorandum of understanding between Akuo Energy, the EIB and Natixis Energeco regarding 5 initial wind, solar and biomass projects.
Akuo Energy, the leading French IPP in renewable energy, and the European Investment Bank (EIB) today announce the launch of a financing programme for 9 renewable-energy power station projects developed and run by Akuo Energy in France, with total financing estimated at 329 million euros. The credit line made available by the EIB could reach 50% of the total cost of this investment, i.e. 164.6 million euros. The implementation of this programme is made possible by the participation of a number of commercial banks acting as banking intermediaries for this operation. The first 5-project phase will be structured by Natixis Energeco.
A unique EIB initiative to help counter climate change
A player deeply involved in protecting the environment and fighting global warming, the EIB has decided to make credit lines available under particularly attractive financial terms in order to support the development of major projects helping increase the use of renewable energies.
Within the framework of this programme, the EIB and Akuo Energy, the leading IPP in renewable energy, have thus jointly defined an investment plan regarding 9 projects in the fields of wind, solar and biomass energy. These 9 projects were chosen with the EIB following an extensive audit of the Akuo Energy group and each individual project.
This financing reflects the EIB’s undertaking to help fight climate change, to which the EU bank devoted 35% of its activity in France in 2015.
Natixis Energeco: partner in the implementation of this programme
The first investment phase, which concerns 5 projects in mainland France and French overseas territories whose banking financing has been structured by Natixis Energeco’s arrangement teams, will be deployed through the intermediary of that bank. By being a banking intermediary for this first group of identified projects, Natixis is again positioning itself as a true partner of both the EIB and Akuo Energy, and is thus reaffirming its wholehearted support for the funding committed to.
“This financing is emblematic, on the eve of the COP21 [UN conference on climate change]”, says Ambroise Fayolle, Vice-President of the EIB, “and in a key sector: the development of renewable energies. The EU bank is more than ever ready to support action to counter global warming and reduce the effects of climate change. Our activity in France in 2015 clearly illustrates this: 35% of our activity has been dedicated to this European and global priority, 10% above the target (25%) set by the Bank within the European Union. It is our responsibility to create favourable conditions for the financing of key projects for our energy transition, and we are particularly proud to be doing this with Akuo.”
Eric Scotto, co-founder and Chairman of Akuo Energy, adds: “We welcome the implementation of major initiatives such as these by players as emblematic as the European Investment Bank. This initiative provides a substantial improvement in the cost of funding our projects, and will therefore significantly contribute to the development of renewable energies. I would also like to sincerely thank the Natixis Energeco teams, who have always shown unwavering support for Akuo projects and are again illustrating this support by being an integral part of the success of this programme’s implementation.”
“As we approach the COP21 conference, Natixis is continuing to accentuate its commitment to the fight against climate change through its various offers, whether it be in the field of investment or financing. The bank is using its resources to provide constant support for the growth of players involved in this sector. It has been supporting, ever since its creation, the Akuo group’s development by arranging the funding of a large proportion of its investments. The EIB’s unrelenting support for the development of renewable energies in France and its association with Natixis via this memorandum of understanding will allow the Akuo group to benefit from additional resources and thus accelerate its development in favour of the use of renewable energies and protecting the environment”, concludes Stéphane Pasquier, CEO of Natixis Energeco.
Photographer: EIB ©To be defined
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Photographer: EIB ©To be defined
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