New alliance between the EIB and Akuo Energy for 400 MW of renewables

The European Investment Bank (EIB), French lender Natixis Energeco and Akuo Energy, the leading French IPP in renewable energy, will take part in an EUR330 million (US$389 million) investment programme targeting nearly 400 MW of renewable energy projects owned by Akuo Energy. The investment round was announced by the EIB yesterday.  

In November 2015 Akuo Energy obtained EUR329 million from the EIB and commercial lenders for nine renewable energy projects in France. The latest initiative will back 40 projects, including wind, solar and biomass developments, in France and overseas territories. 

The EIB said it would make available a credit line of up to EUR165 million, 50% of the scaled total investment. 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 participated in the deployment of the first programme granted to Akuo Energy by the EIB in 2015.

The signing of this agreement took place at a conference organised by the European Commission and the Ministry for an Ecological and Solidarity Transition, devoted to the need to develop the financing offer for investments in energy efficiency. Fittingly, the signing brought the conference to an end.