EIB Puts Up €500M To Upgrade French Power Grids

Law360, San Francisco (March 20, 2013, 7:07 PM EDT) -- The European Investment Bank will pay €500 million ($647 million) to help finance upgrades to seven of France's high-voltage and very-high-voltage power grid projects through 2016, including a significant investment in renewable energy sources, the bank announced Wednesday.

The bank kicked off the loan with a €300 million tranche delivered Wednesday to France's Reseau de Transport d'Electricite. A second €200 million tranche will follow in 2014.

The funds will help ensure the quality and security of France's electricity supply, and allow the country to add new-generation...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.