EIB lends EUR 112m to four biomass projects in France

The European Investment Bank (EIB) will lend a total of EUR 112 million (USD 121.5m) for the construction of four biomass projects in France.

The funding is part of a larger EUR-1-billion green growth funding package whose signing ceremony was held yesterday at the COP21 climate meeting in Paris.

The EUR 112 million will be used for the renovation of existing district heating facilities in Forbach, Epinal, Lacq and Nantes. While currently running on fossil fuels, the plants will be refurbished for using locally sourced wood chips as fuel to achieve a heating or cogeneration capacity of 20-60 MWth per unit.

Heating will be supplied to local urban communities while the electricity output will be injected into the national grid.

As part of the EUR 1-billion package EIB will lend about EUR 400 million for energy efficiency-related renovation of public buildings and another EUR 75 million will support education and training activities in energy efficiency.

(EUR 1 = USD 1.084)

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