French Rhone-Alpes region to back renewable energy projects

Oct 25, 2013 - The eastern French region of Rhone-Alpes announced yesterday that it plans to set up a venture capital company, with resources of EUR 9 million (USD 12.4m) in private and public funds, for the development of renewable energy projects.
The initiative, to be voted by the regional council on Friday, will generate total investments of some EUR 100 million, according to the region.
Some 15 projects in the solar, wind power and anaerobic digestion sectors are seen to be financed in the next three years.

The investment company will be supported financially by banks Banque Populaire des Alpes, Caisse d'Epargne Rhone-Alpes, Credit Agricole Sud Rhone-Alpes, green associations Enercoop, Energie Partagee, GEG Energies Nouvelles, NEF and state-owned financial institution Caisse des Depots (CDC).

(EUR 1.0 = USD 1.382)

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