EDF Energies Nouvelles (EDF EN) has signed a framework agreement with the European Investment Bank (EIB) for 500 million euros to finance the company's solar power projects in France and Italy.
‘Thanks to the volume of our projects' portfolio, we have been able to set up a financing scheme, allowing a rapid, simple and cost-effective replication of a standard project financing structure, initially implemented for two pilot projects,’ says Philippe Crouzat, chief financial officer of EDF EN. ‘This innovative scheme, where each financing stays independent of the others, represents an effective solution to help us complete our numerous projects under development in France and Italy.’
The French pilot projects consist of two 12 MW tranches of the Gabardan photovoltaic power plant, currently under construction in southwest France. These phases are expected to be commissioned this year.
SOURCE: EDF Energies Nouvelles