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Further €70 million under #JunckerPlan for renewable energy projects in France and Germany

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The European Investment Bank (EIB) and Franco-German regional bank SaarLB have signed a €70 million guarantee agreement. This deal will enable SaarLB to grant additional loans of almost €140m for new renewable energy projects in France and Germany. This is the second part of an €150m guarantee agreement first signed in 2016, made possible by the Juncker Plan's European Fund for Strategic Investments (EFSI). Commission Vice-President for the Energy Union Maroš Šefčovič said: "The clean energy transition will only succeed in Europe if we think beyond national borders and work together. SaarLB is doing precisely that by financing renewable energy in Germany and France. I am pleased that the EU is able to contribute through the EIB and the European Fund for Strategic Investments. This is something we are also set to encourage under the next EU budget 2021-2027. By pooling various instruments, we aim at leveraging further investment, notably from the private sector, and at boosting the strategic uptake of renewable energy technologies."

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