The European Investment Bank (EIB), Societe Generale and Brittany Ferries announced that they have signed the first green maritime financing under EIB’s EUR 750m Green Shipping Guarantee (GSG) programme, which started last year by the EIB and Societe Generale.
The new vessel ‘Honfleur’ will be Brittany Ferries’ first LNG powered ferry and will start operation in April 2019 on its Caen-Ouistreham (France) and Portsmouth (UK) route.
In 2016, as part of the investment plan for Europe and the Connecting Europe Facility (CEF), the EIB and Societe Generale signed a EUR 150m framework agreement to support shipbuilding and the modernization of existing vessels to enable sustainable transport and protect the environment, in accordance with the objectives of COP21.
Societe Generale acted as the main arranger of the EUR 142.6m financing for the acquisition of the Honfleur ferry commissioned by Brittany Ferries, which includes a tranche of EUR 49.5m fully guaranteed by the EIB.
EIB Vice-President Ambroise Fayolle said: “By structuring riskier financing in a new sector, the bank of the European Union strongly reaffirms its commitment to sustainable, responsible and sustainable growth on an international level. Our goal is to support the efforts of French shipowners to develop a more environmentally friendly maritime transport thanks to an adapted and attractive financing tool. The environmental performance of the “Motorways of the Sea” is at the heart of our climate action in accordance with the commitments made at COP21 and the priorities of the French Government’s Major Investment Plan. ”
Pierre Moscovici, European Commissioner for Economic and Financial Affairs, Taxation and Customs, added: “This financing will enable Brittany Ferries to improve the energy efficiency of its vessels and thus reduce their ecological footprint. This low carbon project goes in the direction of history, with the One Planet Summit just getting underway. And more and more clean energy projects will be financed under the European Fund for Strategic Investments 2.0. “
