Release date: 8 March 2021
Promoter – Financial Intermediary
ACCEPTABLE CORPORATE(S)Location
Description
The project aims at supporting French promoters of small and mid-sized renewable energy projects in (i) the development of their operations in France and (ii) their expansion in other European countries.
Additionality and Impact
The project concerns the financing of a series of renewable energy generation plants (mostly onshore wind and solar PV), located in France, and potentially other EU countries. 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. By using an intermediated approach, the Bank will be able to support smaller projects, that would otherwise not be possible to be reached directly. 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. Finally, the project contributes to the Bank's renewable energy and climate objectives, as well as national and EU climate targets.
Objectives
This project supports national and European targets related to renewable energy (RE) generation and hence will contribute to EU energy objectives, notably security of energy supply and tackling climate change.
Sector(s)
- Energy - Electricity, gas, steam and air conditioning supply
Proposed EIB finance (Approximate amount)
EUR 200 million
Total cost (Approximate amount)
EUR 400 million
Environmental aspects
This project is intended to generate environmental benefits by supporting projects that help mitigate climate change. The Bank will assess the capacity and procedures of the financial intermediary (FI) to be selected to ensure compliance with national and European environmental and biodiversity regulations as well as its capacity to support the Bank's public disclosure policy, which aims to facilitate access by the public to environmentally-relevant information.
Procurement
The Bank will require the FI to ensure that contracts for the implementation of the projects shall be tendered in accordance with the relevant applicable EU procurement legislation (Directives 2014/23/EU, 2014/24/EU and 2014/25/EU, where applicable, as well as Directives 89/665/EEC and 92/13/EEC) as interpreted by the Court of Justice of the EU, with the publication of tender notices in the Official Journal of the European Union, as and where required.
Status
Signed - 22/11/2021
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).