EDF (acting in its role as shareholder of Enedis, the public utility managing the power grid across 95% of France) has signed a €1 billion loan with the European Investment Bank (EIB) . The loan will support Enedis’ investment programme, which aims notably to improve the network resilience to the impacts of climate change and the connection of decentralized renewable energy.
The €1 billion financing to meet Enedis’ financing needs for 2024-2025 is divided into two phases: an initial €500 million loan in 2024 and a second for the same amount signed in July 2025.
A long-standing financial partner of EDF, the EIB supports innovative, high-potential projects helping to meet Europeqn Union policy goals, most notably combating climate change and the European Green Deal. It aims to cut net greenhouse gas emissions by at least 55% compared to 1990 levels by 2030, and to reach carbon neutrality by 2050. This carbon neutrality will be achieved via large-scale electrification and a resilient, agile and modern power grid – a true backbone of the energy transition.
The EIB financing also falls under REPowerEU, the programme to make the European Union independent of Russian energy supplies through investment in renewable energy sources, energy efficiency and power grids.
EDF Group Chairman and Chief Executive Officer Bernard Fontana added: “This €1 billion 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 said: “In 2024, 40% of investments in Europe to finance energy networks, interconnections, and storage were mobilized by the EIB. The European Union’s bank thus plays a major role in the decarbonization 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 1 billion euros to modernize the network and make it more resilient to the impacts of climate change.”
This second phase will partially finance the connection of 7GW of renewable generation capacity and the burying or replacement of 2,500km of power distribution lines to improve network resilience to climate challenges. This new €500 million loan represents around 40% of the amount of these investments in 2025.
Source: eig.org
