A renewable energy infrastructure fund focusing on onshore wind, solar PV and biomass projects in Europe.
Objectives
The Fund aims to make a commercial return whilst contributing to the targeted increase of the share of electricity from renewable energy sources in EU to 20% by 2020.
Comments
Sector(s)
Energy
Proposed EIB finance (Approximate amount)
Not disclosed.
Total cost (Approximate amount)
EUR 450 million
Environmental aspects
Most, if not all, of the renewable energy projects financed by the Fund (onshore wind farms, solar PV, biomass) are expected to fall under Annex II of the EIA Directive 2011/92/EU, in which case the projects would be subject to an EIA based on a case-by-case decision or defined criteria set by the competent authority. The promoter's capacity and procedures will be assessed to ensure compliance with national and European environmental and biodiversity regulations as well as its capacity to support the Bank's Public Disclosure Policy.
Procurement
The Fund's investment guidelines will be required to ensure that procurement procedures applied by the underlying investments financed by the Fund are in line with the provisions of the relevant Directives. Most, if not all, projects financed by the Fund are expected not to be subject to public procurement procedures as outlined in Directive 2004/17/EC.
Status
Under appraisal
-
18/03/2013.
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. Therefore data provided on this page is indicative and cannot be considered to represent official EIB Policy (see also the Explanatory notes).
The EIB is committed to open communication and encourages constructive stakeholder input regarding its activities. Enquiries and comments regarding the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
Alternatively, EIB can also be contacted through its external offices.
Queries regarding details of a specific project, in particular when EIB loan is under appraisal, should be preferably addressed directly to project promoters.
Any complaint regarding alleged maladministration can be lodged to EIB Complaints Mechanism. The European Ombudsman acts as an independent external accountability mechanism of the EIB.
Zero-tolerance against fraud and corruption
The EIB has a zero-tolerance policy on fraud or corruption. To report allegations of fraud or corruption in EIB-financed projects, please contact the Fraud and Investigation division. All complaints will be treated as strictly confidential, and are handled in line with EIB investigation procedures and the Anti-Fraud Policy.
The EIB is committed to achieving the highest possible level of transparency. The EIB Transparency Policy sets out how EIB discloses information and consults with its stakeholders so as to promote better awareness and understanding of its strategies, policies and operations.
