Akuo Energy will receive EUR 329 million (USD 349m) in financing for nine renewable energy projects in France from the European Investment Bank (EIB) and commercial banks.
The investment programme, announced on Friday, involves wind, solar and biomass projects in France and its overseas territories to be developed by the renewable energy company. Specific details on the schemes were not given.
The EIB said it would make available a credit line of up to EUR 164.6 million, while several commercial banks will act as mediaries. A tripartite memorandum of understanding (MoU) for the first 5-project phase has been signed between the EIB, Natixis Energeco and Akuo.
The European Investment Bank has decided to make credit lines available “under particularly attractive financial terms” to support renewable energy projects. The financing deal with Akuo reflects the EIB’s undertaking to help fight climate change, to which it devoted 35% of its activity in France in 2015.