Release date: 3 February 2011
Promoter – Financial Intermediary
European Commission and the Bank will be core investors of the Fund.
Location
Description
Fund targeting sustainable energy projects promoted by public authorities in the EU.
Objectives
A dedicated financial instrument promoted by the European Commission and the Bank in order to support energy efficiency projects and renewable energy sources, particularly at urban and regional level.
Sector(s)
Proposed EIB finance (Approximate amount)
Up to EUR 75 million
Total cost (Approximate amount)
EUR 500 million
Environmental aspects
This operation intends to bring about environmental benefits by supporting projects that help to mitigate climate change. The individual schemes to be financed are likely to be small. In principle, none of the investments shall have a significant negative impact on any site of nature conservation importance, including sites protected under the “Habitats” and “Birds” Directives (92/43/EEC and 79/409/EEC respectively) and the associated Natura 2000 network. The Fund Manager will be assessed for its capacity and procedures to ensure compliance with national and European environmental and biodiversity regulations as well as its capacity to support the Bank's Public Disclosure Policy, which aims at facilitating access by the public to environmentally relevant information.
Procurement
The Fund’s investment guidelines will be required to ensure that contracts for the implementation of individual schemes have been tendered in accordance with the relevant EU legislation, including publication of tender notices in the EU Official Journal, as and where appropriate.
Status
Signed - 1/07/2011
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).