Release date: 1 September 2014
Promoter – Financial Intermediary
MIROVALocation
Description
An infrastructure fund dedicated to renewable energy 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.
Sector(s)
Proposed EIB finance (Approximate amount)
Not disclosed.
Total cost (Approximate amount)
Not disclosed.
Environmental aspects
Most, if not all, of the renewable energy projects financed by the fund (onshore wind farms, solar PV, biomass, hydro and geothermal) 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
Signed - 22/12/2014
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).