HomeRenewablesBiomassDistrict heating included in EIB financial package

District heating included in EIB financial package

The European Investment Bank (EIB) has approved financing which is set to benefit small scale biomass and district heating in Europe.

It’s part of investment totalling €1.3 billion (à‚£1.14bn) aimed at energy and water projects worldwide.

They include wind farms in Austria, upgrading energy and water networks in Italy, expanding hydropower in Madagascar, smart meters in France and renewable energy projects in Peru.

EIB President Werner Hoyer said: “Economies across Europe and around the world enjoy solid growth rates at the moment but there is still a large investment gap that needs to be tackled. Investment in needed in many areas, from fighting climate change to supporting the digital transformation.

Earlier this year the bankà‚ approved financing which also focused on small scale biomass andà‚ district heatingà‚ in Europe.

The EIB is the EU’s nonprofit bank, owned by and representing the interests of the member states. It tends to focus on development and climate change investment and is the world’s largest multilateral borrower and lender.

Also in 2017, EIB provided a loan of $21.5m to a 10-MWà‚ biomass and waste gasificationà‚ project in France.

The facility in Thouars will be producing combined heat and power using plasma torch technology developed by CHO Power, a unit of French clean technologies and renewable energy group Europlasma.

The total investment in theà‚ combined heat and powerà‚ projects amounts to EUR55 million for the development, installation, operation and maintenance of the plant.