Brussels, 11/04/2011 (Agence Europe) - On Friday 8 April, the Languedoc-Roussillon Region (France) and the European Investment Bank (EIB) launched a €400 million photovoltaic programme which will contribute to expanding renewable energy production in Languedoc-Roussillon in keeping with the following objectives: - a 200 MWp increase in photovoltaic electricity production by 2014 by installing facilities throughout the region; - consistent development of small and medium-scale photovoltaic installations (between 3 and 100 kWp) on the premises of public and private businesses, local authorities, farms and associations.
This operation will be carried out in close partnership with the BPCE (Banque Populaire et Caisse d'Epargne) and Crédit Agricole Groups. It is being jointly financed by the European Investment Bank, which is providing a €200 million credit line to these two banking partners via their Regional Caisses (Crédit Agricole du Languedoc et Sud Méditerranée, Banque Populaire du Sud, Caisse d'Epargne de Languedoc-Roussillon). These partner banks will advance an additional overall amount of €200 million to co-finance photovoltaic energy projects. They will therefore manage a total package of €400 million and will be responsible for appraising financing requests throughout the region. The Languedoc-Roussillon Region will guarantee 25% of the total amount of loans provided to local authorities, micro-enterprises, SMEs and farms. This undertaking by the Region will enhance the financial conditions proposed to project promoters, an EIB press release states. (O.L./transl.rt)