London Green Fund - Selection of Waste Urban Development Funds
The European Investment Bank is launching a call for expressions of interest to select an urban development fund to manage £35 million from the London Green Fund for investing in waste infrastructure in Greater London under the JESSICA initiative
The London Green Fund is a £100 million fund that will invest in climate change-related projects including waste, decentralised energy and energy efficiency schemes across Greater London. The fund is part of the European Investment Bank and European Commission's Joint European Support for Sustainable Investment in City Areas (JESSICA) initiative and has the broad remit of providing debt, equity and guarantee investment to support climate change infrastructure projects through urban development funds.
This call for expressions of interest is seeking applicants to manage the Waste Urban Development Fund. The focus of the fund will be to invest in urban projects in the development or construction phase that involve the establishment of value adding re-use, recycling and reprocessing facilities, waste-to-energy facilities or other facilities replacing fossil fuel such as ‘waste-to-fuel'. It is anticipated that the urban development fund will invest in urban projects primarily through equity or equity-type participations, although the use of subordinated and senior debt instruments in urban projects has not been specifically excluded.
The selection procedure will be organized in two stages:
Stage 1: Expressions of interest which are not excluded in accordance with the exclusion criteria will be assessed on the basis of the selection criteria.
Stage 2: All applicants meeting the selection criteria will be invited to submit bids. The bids will be evaluated on the basis of the award criteria.
Applicants may express their interest, by 4 June 2010 at the latest, in accordance with the terms of the call for expressions of interest.
Please find attached questions and answers pertaining to the call for expressions of interest. These are for information purposes only and shall not replace any provisions of the call for expression of interest. In case of discrepancies, the provisions of the call for expressions of interest shall prevail.
Please find attached a presentation pertaining to the call for expressions of interest from the information seminar held on 20 May 2010. The presentation is for information purposes only and shall not replace any provisions of the call for expression of interest. In case of discrepancies, the provisions of the call for expressions of interest shall prevail.