Release date: 1 August 2024
Promoter – Financial Intermediary
CREDIT AGRICOLE SALocation
Description
The loan will support small and medium sized enterprises (SMEs) and midcaps as well as public authorities to implement small-scale projects with a climate action component of 70% in the field of renewable energy, energy efficiency and green vehicles.
Additionality and Impact
The Project aims to improve access to finance and financing conditions for French SMEs andMidcaps (70%) and small public entities (30%). Notably, at least 70% of investments will target Climate Action & Environmental Sustainability (CA&ES) objectives, focusing on small-scale renewable energy projects (solar and wind), energy efficiency projects, and green mobility (electric vehicles and charging stations) in France.
It addresses market failures of asymmetric information and also carbon and air pollution externalities by reducing carbon emission, improving energy market efficiency and integration, supporting job creation, and enhancing SME and Midcap competitiveness. The operation will contribute to energy production from low-carbon sources and reduction of energy demand in France, which is key to meeting the mid-/long-term national objectives, as outlined in the French National Energy and Climate Plan (NECP).
Through an intermediated approach, the Bank will support smaller projects, including in cohesion (transition) regions, otherwise unreachable directly. Moreover, the operation supports the Financial Intermediary (FI)'s sustainability strategy, by facilitating additional lending to French SMEs, Midcaps, and small public entities.
The FI is financially sound and has sufficient track record in implementing and allocating EIB products. The EIB's contribution, through financial value-added, long-term tenor, and flexibility in drawdowns and repayment profiles, will facilitate access to finance and improve financing conditions for final beneficiaries through reduced interest rates, while enabling the FI to increase its climate action financing.
Objectives
The aim is to enhance access to finance for the target beneficiaries.
Sector(s)
- Energy - Electricity, gas, steam and air conditioning supply
- Credit lines - Credit lines
Proposed EIB finance (Approximate amount)
EUR 300 million
Total cost (Approximate amount)
not applicable
Environmental aspects
Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.
Procurement
Final beneficiaries will be requested to comply with applicable national and EU legislation, as appropriate.
Status
Signed - 30/07/2024
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).