Brussels, 10/02/2009 (Agence Europe) - Ségolène Royal, President of the Poitou-Charentes Region, Philippe de Fontaine Vive, Vice-President of the European Investment Bank (EIB), and the Touraine and Poitou, Charente-Maritime Deux-Sèvres and Charente-Périgord regional agencies of the Crédit Agricole bank, along with Crédit Agricole Leasing announced on Monday 9 February that the EIB Board of Directors had, on 30 January 2009, approved a €200 million loan to finance the Poitou-Charentes Region photovoltaic plan. In addition, the Crédit Agricole regional agencies and Crédit Agricole Leasing have been selected to implement and co-finance the regional project to the tune of €200 million. The Poitou-Charentes Region will guarantee the loans. Royal, de Fontaine Vive and representatives of the Crédit Agricole will launch these major works in Poitou-Charentes on 27 February.
The photovoltaic plan adopted by the Poitou-Charentes region in January 2008 seeks to develop decentralised renewable energy production, enhance the energy autonomy of the regions, and create jobs and develop economic spin-offs from the photovoltaic sector. The targets set for 2012 are 73 GWh (gigawatt/hours) of solar electricity production in Poitou-Charentes (one and a half times what the country as a whole produced in 2007), representing over €400 million in investment and the creation of 1,000 jobs. The EIB says this is “an undertaking that is unique in Europe and one which will guarantee attractive finance for local authorities, companies, professionals and farmers through the partnership between the EIB … the Poitou-Charentes Region and the Crédit Agricole, despite the current financial tension on the markets”. The project is in line with the targets set by the European Union of meeting 20% of the Community's energy needs through renewable energy by 2020. (O.J./transl.rt)