Signature(s)
Fiche récapitulative
The Bank in close cooperation with other first time investors (KfW, EC) will organise an international tender to identify a fund manager for the Fund.
The Fund will target small scale investments in the energy efficiency and renewable energy sectors in the West Balkans and Turkey.
The Fund will be structured along the lines of the successful European Fund for South East Europe (ref. CA/411/07) and will primarily invest in EUR. It will provide only debt instruments in order to raise the needed capital for the Fund; it will be structured to offer a range of investors, including private investors, the appropriate risk/return profiles that they require. The first close of the fund is expected for end 2009.
The Fund aims to provide increased financing availability for Energy Efficiency and small renewable energy projects in the region.
This operation intends to bring environmental benefits by supporting projects that help to mitigate climate change. The individual schemes to be financed are likely to be small and are expected to have limited environmental impacts. It is expected that 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’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.