Linklaters advised Bpifrance on the structuring and contractualisation of the Renewable Energy Guarantee Fund (Fonds de Garantie Énergie Renouvelable), announced by the French government in November 2022.
This guarantee fund aims to accelerate the development of renewable energies in France by democratising the use of electricity supply contracts (Corporate PPAs) by manufacturers wishing to secure their long-term supply of electricity from renewable sources. This solution meets the dual objective of decarbonising French industry and stabilising its supply costs against a backdrop of rising electricity costs.
The fund may be requested to provide guarantees to industrial companies operating in mainland France that wish to enter into Corporate PPAs with renewable energy producers for a period of at least 10 years and covering a minimum annual volume of 10 GWh. The scheme will cover solar and onshore wind power generation. Operated by Bpifrance, it will be launched this year with the aim of eventually covering 500 MW of cumulative installed capacity, a production volume equivalent to the consumption of a city like Bordeaux (France).
The Linklaters Paris team was led by Energy and Infrastructure counsel Samuel Bordeleau, and supervised by François April, Energy and Infrastructure partner and head of Linklaters’ renewable energy practice in Paris, and composed of Energy and Infrastructure associate Claire Oualid, Financial regulation partner Ngoc-Hong Ma, managing associate Jihane Guyot, associate Stanislas Haurens.
