France: EDF and the EIB announce the signature of €500 million financing contract to support the modernisation and the resilience of Enedis-managed public electricity grid

This article is published in association with European Investment Bank.

• This financing will enable power grid manager Enedis to invest in making the network more resilient to climate change and connecting decentralised renewable energy.
• It is the second phase of a €1 billion energy transition and network adaptation financing programme.
• EDF and the EIB have long been partners in financing Enedis’ energy transition investments.

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 decentralised 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.”

Context information

Electricity is expected to account for 55% of final energy use in France by 2050,[1] making the ecological transition a major challenge on the ground, as it will come with acceleration in the  electrification of uses. Enedis is at the forefront of this transition, strengthening power grid resilience to climate change and connecting an ever-greater number of renewable energy producers.

Almost 90% of wind and solar energy generated in France is fed into the power grid managed by Enedis. France had nearly 1.2 million renewable energy producers at the end of May 2025, around two-thirds of which were self-consumers. At the end of 2021 there were 540,000 producers, a third of which were self-consumers.

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.

Background information

EIB

The European Investment Bank (EIB) is the long-term lending institution of the European Union, owned by its Member States. The EIB finances investments in eight core priorities that support EU policy objectives. The EIB Group, which also includes the European Investment Fund (EIF), signed nearly €89 billion in new financing for over 900 high-impact projects in 2024, boosting Europe’s competitiveness and security. In France, the EIB Group signed more than 100 agreements in 2024, totalling €12.6 billion. Nearly 60% (69% in France) of annual EIB Group financing supports projects that help fight climate change and improve climate change adaptation. In 2024 the EIB made a record €8.5 billion in new financing for energy grids, interconnectors and storage, mobilising 40% of Europe’s total investment in that sector.

EDF

A major player in the energy transition, the EDF Group is an integrated energy company active in all sectors: production, transmission, distribution, trading, energy sales and energy services. The group is a world leader in low-carbon energy, with an output of 520 TWh (94% decarbonised), a carbon intensity of 30 g CO₂/kWh in 2024, and a diverse generation mix based mainly on nuclear and renewable energy (including hydropower). It is also investing in new technologies to support the energy transition. EDF’s raison d’être is to build a net zero CO₂ energy future with electricity and innovative solutions and services, to help save the planet and drive well-being and economic development. The group supplies energy and services to approximately 41.5 million customers[2] and generated consolidated sales of €118.7 billion in 2024.

[1] Futurs énergétiques 2050 report, RTE.

[2] The customer portfolio consists of electricity, gas and recurring service contracts.