Réseau de Transport d'Électricité (RTE), is the electricity transmission system operator of France. It is responsible for the operation, maintenance and development of the French high-voltage transmission system. It is in charge of approximately 105,000 kilometres of ultra-high and high voltage lines spanning the whole of France and 50 interconnectors with neighbouring countries, making it the largest network in Europe.
RTE is a wholly owned subsidiary of the partially public-owned French generator Électricité de France (EDF), headquartered in Paris. RTE was split off from EDF in 2005, when European legislation directed to unbundle the generating and transmission activities of EDF, in order to liberalise the energy markets, making it available for other energy generating companies to access the power grid. RTE is a public utility which provides all competing power-generation facilities with non-discriminatory access to the grid.
The green bond instruments are used to finance and refinance projects that will develop interconnected European system or develop infrastructure dedicated to connect offshore wind farms into the grid. 60% of proceeds are used for new financing and are for wind farms.
RTE has developed an investment plan in order to double France’s interconnection capacity in fifteen years, from around 15 GW currently to around 30 GW by 2035. This target is coherent with European Union and French policy priorities. RTE explicitly states that it will not finance nuclear power or fossil fuel related facilties with the issuance.