AKUO RENEWABLE ENERGY (FRANCE)

The project involves an EIB bank-intermediated loan of EUR 250m to support the investment programme of leading independent renewable power producer Akuo Energy in France. The project will consist in a number of renewable energy schemes (wind, solar PV and biomass) backed by long-term electricity purchase agreements with EDF. It will be carried out in the period 2/2013 to 12/2016 and represent new installed capacity of 189 MW for a total investment cost in excess of EUR 500m.

The project contributes to the Climate Action objectives of the Bank, the French government and the EU by supporting innovative renewable energy schemes.

All schemes fall under Annex II of the Directive 2011/92/EU. Therefore they can be subject to an Environmental Impact Assessment (EIA) on a case by case basis decision or defined criteria set by the competent authority. Further, compliance with the EU Habitats Directive 92/43/EEC, the EU Birds Directive 79/409/EEC (relevant for the wind farm), and the EU Industrial Emissions Directive 2010/75/EC will be ensured during appraisal.

The Bank will review systems and procedures applied by the promoter, including compliance with relevant national and EU legislation and publication in the Official Journal of the EU where appropriate. The Bank will ensure that suitable procurement procedures, including an appropriate selection of works, goods and services offered at competitive prices will be applied by the promoter and/or the special purpose companies.