Brussels, 02/02/2009 (Agence Europe) - On Friday 30 January, the European Investment Bank (EIB) announced its decision to finance the investment programme of the French power grid manager, RTE, with up to €400 million for the upgrading and extension of the grid over the period 2009-2012.
RTE's investment programme is expected to run to €5 billion over this period. Under the programme, 31 projects amounting to €1 billion have attracted the EIB's interest. To implement these selected projects, the EIB has granted RTE a €400 million loan designed to cover 40% of the investment. The highly attractive loan terms will ultimately benefit all RTE's customers. Financing these projects accords with the EIB's policy of promoting the security and diversity of the EU's energy supply, encouraging the development of renewables and supporting energy saving projects - goals to which it devoted more than €10 billion last year.
The 31 projects in RTE's investment programme financed by the EIB will involve the creation of more than 150 km of new lines and the upgrading of 700 km of 400,000 volt, 225,000 volt and 90,000 volt lines throughout France. The programme will increase the grid's transmission capacity in the face of growing consumption, strengthen the security of supply, especially in the Provence-Alpes-Côte d'Azur region, and take forward the grid safety drive launched in 2002. It will also connect RTE's grid to new power plants supplied by different energy sources, particularly renewables, which are supposed to account for 20% of energy consumption by 2020.
The programme involves increasing cross-border transmission capacity via power interconnections: between France and Belgium (via the Moulaine-Aubange connection on the France-Belgium-Netherlands-Germany axis), and between France and Italy. These two links with neighbouring countries are identified as EU trans-European energy network priorities that are essential to enabling regions and countries to share, exchange and guarantee the power supply for EU citizens.
Finally, the programme includes the roll-out of around 3,200 km of fibre optic grid and the creation of a centre for the administration and supervision of the remote control network incorporating RTE's fibre optic infrastructure. (O.L./transl.jl)