New €330m alliance supports Akuo Energy’s renewable power projects in France

13 December 2017 (Last Updated December 13th, 2017 10:00)

The European Investment Bank (EIB), French independent power producer (IPP) Akuo Energy and Natixis Energeco have signed a tripartite agreement for the implementation of a new programme of renewable energy projects for a total investment of €330m.

New €330m alliance supports Akuo Energy’s renewable power projects in France
New alliance between the EIB and Akuo Energy to implement energy transition in France. Credit: EIB.

French independent power producer (IPP) Akuo Energy, the European Investment Bank (EIB) and Natixis Energeco have signed a €330m tripartite agreement for the implementation of a new renewable energy programme designed to support solar, wind, hydraulic and wood biomass energy projects in the EU.

French commercial bank Natixis Energeco has confirmed it will structure the programme’s investments, while the CIC will support deployment.

“[The programme is] designed to support solar, wind, hydraulic and wood biomass energy projects in the EU.”

Around forty assets held by Akuo Energy meet the new programme’s criteria and will be eligible for project debt financing.

In November 2015, a €329m investment programme was launched by Akuo Energy and the EIB to support nine renewable energy power station projects in France.

EIB vice-president Ambroise Fayolle said: “The fight against global warming lies at the heart of the EU bank’s priorities, with it devoting at least 25% of its annual business to this issue.

“I am delighted to be able to continue our fruitful cooperation with Akuo Energy and its financial partners such as the BPCE Group through a new programme of renewable energy projects in France and elsewhere in the EU totalling €330m.

“By providing them with optimal financing conditions, the EIB is lending its support to the development of players involved in the energy transition.”