Renewable energy sector in France gets €750m boost

The European Investment Bank is to provide €750 million (£620m) to support renewable energy projects in France over the next two years. Partner banks Société Générale, Credit Agricole and BPCE […]

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By Priyanka Shrestha

The European Investment Bank is to provide €750 million (£620m) to support renewable energy projects in France over the next two years.

Partner banks Société Générale, Credit Agricole and BPCE will be responsible for choosing projects and structuring their financing for projects including solar, wind, hydro and geothermal energy.

EIB will cover 50% of the funding for the renewable energy projects with a capital cost of €50 million or less.

Philippe de Fontaine Vive, Vice President of the EIB said: “The energy transition is one of our priorities. That is why we fund with trusted partners concrete projects with a direct impact on sustainable development and daily lives.”