The European Investment Bank (EIB), Akuo Energy, the leading French IPP in renewable energy and Natixis Energeco have today announced the signing of a tripartite agreement for the deployment of a new EUR 330m investment programme in renewable energy assets owned by Akuo Energy.
The signing of this agreement brings the conference organised by the European Commission and the Ministry for an Ecological and Solidarity Transition, notably devoted to the need to develop the financing offer for investments in energy efficiency, to an end. Adnan Z. Amin, Director-General of the International Renewable Energy Agency (IRENA), said at the Bonn COP 23 that “energy efficiency and renewable energy are two sides of the same coin, inseparable for the success of the energy transition”. This agreement is another illustration of the major role the EIB is playing in financing the energy transition.
A portfolio approach. This programme was scaled in accordance with a portfolio approach that incorporates both technological (solar, wind, hydraulic and wood biomass) and geographical (European Union) eligibility criteria. On a similar model to that of the previous programme deployed by the EIB in favour of Akuo Energy, this new credit line could furthermore total 50% of the scaled total investment, or a net figure of €165 million euros. On the basis of this criteria, the programme should thus enable the project debt financing of some forty assets held by Akuo Energy, all of them identified and having a total capacity of almost 400 MW. This conference is an event associated with the One Planet Summit.
This financing again illustrates the unrelenting work of the EIB and its partners in favour of climate action undertaken by private-sector players and which here translates into the availability of credit lines at attractive and enticing financing conditions.
Natixis Energeco and CIC have reiterated their support. Key partners for this programme’s deployment, a number of commercial banks will participate in this operation. In this respect, Natixis Energeco has already announced its immediate assistance to structure the investments. CIC has also confirmed its involvement in the operation. The two French commercial banks had already taken part in the deployment of the first programme granted to Akuo Energy by the EIB in November 2015.