EIB confirms RTE loan

摘要

The European Investment Bank has agreed to make a €500 million loan towards the €1.2 billion cost of seven power grid upgrading projects planned by RTE between 2012-2016, the bank said March 20. A first tranche of €300 million tranche has been signed. A second €200 million tranche is to be signed next year. The loan will enable the following projects to be financed in 2013: completion of the Cotentin-Maine project, connecting EDF's 1.6-GW Flamanville EPR nuclear plant and allowing connection of renewables in western France; securing and upgrading the 400-kV grid connecting Lyon and Montelimar; and the PACA 'power safety net' project, giving the Provence-Alpes-Cote d'Azur region the same security of power supply as other regions in France.