Eiffel Investment Group, Banque des Territoires, GRTgaz, Societe Generale Assurances and ADEME Investissement announce the launch of the Eiffel Gaz Vert fund, welcomed by Mrs. Elisabeth BORNE, Minister for Ecological and Inclusive Transition.

This fund intends to participate actively in the development of the renewable gas sector in France and in Europe by financing 50 to 100 methanization units via minority equity investments and other capital or quasi-capital contributions. Demonstrating the commitment of each of the players, Eiffel Gaz Vert is, from its launch, endowed with more than EUR 115 million in commitments and ultimately aims at EUR 200 million. A first operation of EUR 8 million has already been carried out. The European Investment Bank and ProBTP are studying, in the long term, an entry into this fund.

The Eiffel Gaz Vert fund is designed to accelerate the development of the renewable gas sector by supporting the promoters of these new projects. Often from the agricultural world, they need additional financial resources for the construction of facilities, particularly capital. Gas is today an essential component of the energy mix and its decarbonization is an important project for the years to come.

Elisabeth Borne, Minister of ecological and integral transition, occurring at the opening of the 21 th conference of the Union of Renewable Energies indicates: 'France has embarked on a global transition to achieve carbon neutrality by the middle of the century. This transition depends very much on our ability to transform the energy sector, which today accounts for three-quarters of our emissions. To decarbonize it, we are going to massify renewable energies and in particular biogas which is the subject of reinforced support from the State in the latest version of the Multi-year Energy Program. The launch of the Eiffel Gaz Vert fund, dedicated to the development of biogas is fully in line with this objective. This fund is the result of exemplary cooperation between public and private actors and will be able to contribute very directly and very concretely to the development of a sector of the future, at the service of reducing the carbon footprint of our country. '

Thanks to an investment capacity ranging from a few hundred thousand euros up to 10 M EUR per operation, this new fund will accelerate the deployment of the sector by funding 50 to 100 methanation units throughout of the territory via capital or quasi-capital contributions.

Eiffel Gaz Vert is characterized by great flexibility of use for project promoters: it can intervene at all stages of development or operation, and it allows the optimization of the capital structure of projects as and when measure of industrial risk reduction. It is a solution which is particularly useful for passing the delicate phase of building the methanisation unit before it goes into production and long-term financing takes over.

By offering minority financing, the fund preserves the control of industrialists and farmers over their projects, while allowing them to allocate their own funds to more projects. It thus lifts the obstacles to financing the biogas sector throughout the territory.

Greenfin label

The fund has obtained the Greenfin Label created by the Ministry of Ecological and Inclusive Transition, which guarantees the green quality of investment funds and is aimed at financial actors who act in the service of the common good through transparent and sustainable practices.

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