Release date: 9 October 2014
Promoter – Financial Intermediary
PRIVATE ENTITY(IES)Location
Description
Infrastructure fund targeting energy efficiency (EE) and renewable energy (RE) projects in the UK
Objectives
The fund aims at achieving energy efficiency and renewable energy gains by investing in three project categories: (i) Demand-side energy efficiency, (ii) renewable heat and (iii) combined heat and power (CHP) projects.
The development of renewable energy and energy efficiency projects supports national and European targets in these two areas and thus supports the EU’s climate change and security of energy supply objectives. The project is in line with the Bank’s priority energy lending objectives concerning renewable energy and energy efficiency.
Sector(s)
Proposed EIB finance (Approximate amount)
GBP 30 million
Total cost (Approximate amount)
GBP 150 million
Environmental aspects
Most of the projects in the existing pipeline of the fund are expected not to fall under the Environmental Impact Assessment (EIA) Directive 2011/92/EU, in which case the projects would not be subject to an EIA. The legal documentation to be entered into by the Bank will include an obligation on the fund manager to ensure that the portfolio companies are in full compliance with the applicable EU Directives.
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.
Status
Signed - 24/04/2015
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).