Summary sheet
Blended finance initiative, backed by French fund manager Mirova, accelerating the energy transition in emerging Asian markets through investments in renewable energy, e-mobility and other clean energy sectors. The initiative is pivotal to advancing the green transition under the EU's Global Gateway strategy, while also strengthening the positioning of EU project developers and equipment manufacturers in the APAC region by anchoring projects to European standards, technologies, and supply chains.
The Fund is focused on developing and scaling energy transition projects in Southeast Asia. The Fund is expected to drive and accelerate the energy transition, promote cross-regional investment, and support sustainable development throughout the target region.
The Fund will be required to have an environmental and social policy and the appropriate management systems in place so as to comply with the EIB's environmental and social requirements. The assessment of the environmental, climate and social impacts and risks will be part of the standard due diligence process that the fund will have to carry out for each portfolio company and any underlying investment and, thereby ensuring that the portfolio and these investments are in compliance with national law and in line with the principles and standards of relevant EU environmental legislation as well as the EIB's Environmental and Social Standards.
The EIB will require the Fund Manager to ensure that implementation of the project will be done in accordance with the EIB's Guide to Procurement.