April 26 (Renewables Now) - The European Investment Bank (EIB) and French lender La Banque Postal signed this week a framework agreement to provide financing for the development of renewable energy projects, primarily wind and solar, in France.
The EIB will support La Banque Postale’s lending to project developers with funds on a favourable rate, so as to improve the lending conditions for the French bank's customers. In addition, the two lenders will evenly share the risk associated with loans granted by La Banque Postale.
In 2018, La Banque Postale granted close to EUR 800 million (USD 891.2m) in loans to mostly wind farms and solar photovoltaic (PV) projects. Projects for public building energy optimisation received EUR 100 million, also backed by the EIB, the EU lender said.
(EUR 1.0 = USD 1.11)