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...
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