Caisse d’Epargne CEPAC secures EUR 350 million financing package from the European Investment Bank (EIB) aimed at financing solar and wind projects in France

France: Energy transition – Caisse d’Epargne CEPAC and EIB sign major partnership agreement

(PRESS RELEASE) LUXEMBOURG, 7-Dec-2022 — /EuropaWire/ — The European Investment Bank (EIB), the lending arm of the European Union, has announced it will support solar and wind projects in France by providing EUR 350 million financing package to Caisse d’Epargne CEPAC, a regional cooperative bank, member of Groupe BPCE and a major player in the energy transition.

Caisse d’Epargne CEPAC had already received €400 million in financing from the EIB through credit lines set up by the Bank for BPCE Group entities.

The signature of this agreement strengthens the growth and competitiveness of its financing activities for renewable energy projects that already make Caisse d’Epargne CEPAC one of the main players in the financing of medium-sized solar and wind projects and, therefore, of the energy transition.

“This agreement with the European Investment Bank signals our commitment to address the biggest challenge of the 21st century: the green transition.” We have been one of France’s most active players in this field for more than ten years. As the largest funder of the BPCE Group’s renewable energy projects, we now have €1.5 billion in commitments in energy transition projects,” said Caisse d’Epargne CEPAC CEO Christine Fabresse.

“The European Investment Bank is very pleased to be able to scale up its financing of the energy transition alongside a leading bank and long-standing partner such as the BPCE Group. It is the EU climate bank, and is living up to this role by working with its banking partners to finance renewable energy investment projects aimed at combating global warming,” said EIB Vice-President Ambroise Fayolle.

Background information

About the EIB

Since 2019, the EIB has been accelerating its transformation into the EU climate bank with a commitment to devote at least 50% of its financing from 2025 to investments that help combat and mitigate the impact of climate change. In 2021, it had already achieved this target in France, directing two-thirds of its €9.2 billion of investment to projects in renewable energy, energy efficiency of buildings and sustainable transport development.

About Caisse d’Epargne CEPAC

Caisse d’Epargne CEPAC is a regional cooperative bank, member of Groupe BPCE, based in Marseille. It has 3 150 employees, 315 000 cooperative shareholders, 241branches serving 1.5 million customers, and 13 business centres covering businesses, local authorities, the social economy, social housing organisations, mixed-ownership companies and real estate professionals. It actively supports regional economic development by focusing on a wide range of specialised areas: structured finance, private equity and real estate investment. A leading banking player in metropolitan France and the overseas countries and territories, Caisse d’Epargne CEPAC has roots in a vast territory covering 13 departments and/or local authorities: Bouches-du-Rhône, Vaucluse, Alpes-de-Haute-Provence, Hautes-Alpes, Corsica, La Réunion, Mayotte, Guadeloupe, Saint Barthélemy, Saint Martin, Martinique, French Guiana and Saint Pierre and Miquelon. It operates on three continents and 30% of its business is in overseas territories. Every year, it is involved in numerous partnerships and cultural sponsorships, sports or solidarity. With more than €3 million provided to corporate social responsibility each year, CEPAC is firmly committed to the social and environmental transformation of the areas in which it operates.

Media contact:

Christophe Alix
+352 4379 – 84303

Press Office
+352 4379 – 21000

SOURCE: European Investment Bank


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