The second tranche of the loan will help finance the connection of 7GW of renewable generation.
The loan will be released in two equal instalments of €500 million. The second instalment, planned for 2025, will cover about 40% of the year’s projected investment costs. This phase will focus on connecting 7GW of renewable generation capacity and reinforcing the grid’s resilience by burying or replacing 2,500 kilometres of power distribution lines. These improvements are expected to help the network adapt to growing challenges linked to climate change.
The EIB, which has consistently supported EDF projects, underlined that its financing aligns with the European Union’s climate and energy strategies. These include the European Green Deal, which seeks to reduce net greenhouse gas emissions by at least 55% compared with 1990 levels by 2030, and to achieve carbon neutrality by 2050. The loan also fits within the framework of REPowerEU, a programme designed to boost renewable energy and improve energy efficiency across the region.
By securing this agreement, Enedis strengthens its role in the energy transition. The upgraded grid will not only improve resilience but also facilitate large-scale electrification, supporting the EU’s climate and energy goals.
EDF Group chair and CEO Bernard Fontana said: “This €1bn financing agreement granted by the EIB in two phases marks an important milestone. It enables Enedis to continue its public service mission by helping to strengthen the resilience of the network to the impacts of the climate change and ensuring the connection of renewable energies.”
EIB vice-president Ambroise Fayolle also highlighted the significance of the deal: “In 2024, 40% of investments in Europe to finance energy networks, interconnections, and storage were mobilised by the EIB. The European Union’s bank thus plays a major role in the decarbonisation and energy security of the continent. The financing for Enedis is fully aligned with this dynamic. We are therefore pleased to continue supporting EDF with this total financing of €1bn to modernise the network and make it more resilient to the impacts of climate change.”
In addition to this development, Data4, a European data centre provider, recently secured a 12-year nuclear production allocation contract with EDF, further expanding the company’s role in the region’s energy supply.
