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France receives EIB funding dedicated to renewable energies

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On 23 July 2015, the European Investment Bank (EIB) signed its first equity participation in France under the European Investment Plan. EIB will provide €50 million to Omnes Capital, a private equity fund, for the launch of Capenergie 3, an investment fund entirely dedicated to developing renewable energies. The signing ceremony took place the day after the EIB Group and the European Commission signed in Brussels an agreement on the implementation of the Plan.

 

This investment project represents the first renewable energy development operation under the Juncker Plan. The project will serve to finance means of energy production with a global capacity of over 500 MW and create more than 1,000 jobs during the construction and operation of the renewable energy projects supported. The EIB's participation in the form of an equity injection is expected to attract other international investors, helping Capenergie to speed up its fund-raising and grow its business. With a target size of €200 million, the Capenergie 3 fund aims to leverage total investment of €1 billion.

 

"The EIB is mobilising more than ever to ensure the successful implementation of the Investment Plan for Europe in France. Our first equity participation in this fund has a twofold objective: to ensure the success of Capenergie 3's first fund-raising while attracting other European and global investors. The growing competitiveness of renewable energies creates new investment opportunities that must be seized. Rapid and targeted action is the key to achieving the lasting return of growth through investment" EIB Vice-President Ambroise Fayolle commented.

 

 

For further information, please visit the relevant EIB website.

Relevant links: http://www.buildup.eu/news/44243; http://www.buildup.eu/news/45159