The European Investment Bank (EIB) is assessing a loan of €20 million (US$21.6 million) to support a biomass and waste gasification project in France.
The transaction took the total investment in the Climate Awareness Bond (CAB) to €10 billion (US$10.8 billion). The 11 MW project will be located in Thouars. CHO Power, a unit of French clean technologies and renewable energy group Europlasma, will make use of its plasma torch technology so that the facility will produce power and heat.
The total investment in the combined heat and power (CHP) project amounts to €55 million (US$59.3 million) for the development, installation, operation and maintenance of the plant.
The EIB is the European Union's nonprofit long-term lending institution established in 1958 under the Treaty of Rome. As a "policy-driven bank" whose shareholders are the member states of the EU, the EIB uses its financing operations to bring about European integration and social cohesion. It should not be confused with the European Central Bank. The EIB is a publicly owned international financial institution and its shareholders are the EU member states.