DZ BANK RISK SHARING

Promoter – Financial Intermediary

SPECIAL PURPOSE ENTITY(IES)/FUND

Location

• Germany

Description

Indirect risk sharing instrument to be used to cover up to 50% of the credit risk associated with a portfolio of loans outstanding on DZ Bank AG (DZ) balance sheet. With the resources made available by the guarantee, DZ will undertake to grant new loans to eligible renewable energy projects. The new loans will not be covered by the risk sharing instrument.

Objectives

This operation will be set up as a risk sharing instrument covering a portfolio of renewable energy assets. The instrument is designed to facilitate the intermediary to undertake new projects.

Comments

Sector(s)

• Energy - Electricity, gas, steam and air conditioning supply

Proposed EIB finance (Approximate amount)

EUR 125 million

Total cost (Approximate amount)

EUR 600 million

Environmental aspects

The project comprises a multi-sector multi-scheme operation. All of the schemes are expected to fall under Annex II of the Environmental Impact Assessment (EIA) Directive 2011/92/EU. Should any scheme have a negative impact on an area forming part of the Natura 2000 network (as defined under Habitats Directive 92/43/EEC and the Birds Directive 79/409/EEC), then the Bank would require the financial intermediary and the final beneficiary to act according to the provisions of the aforementioned directives as transposed in the national law.

Procurement

The Bank will require the financial intermediary to ensure that contracts for the implementation of the schemes have been/shall be tendered in accordance with the relevant applicable EU procurement legislation (Dir 2004/18/EEC/ or 2004/17/EEC and Dir. 2007/66/EC), with parallel publication of tender notices in the EU Official Journal, as and where appropriate.

Status

Signed - 29/07/2015