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Top-up fund to be established alongside the Eiffel Energy Transition Fund, with the aim of providing funding to renewable energy project developers that face scarcity of funding in the delivery of projects due to disruption caused in lending markets and project cycles as a result of COVID-19.
Top-up fund to be established alongside the Eiffel Energy Transition Fund, with the aim of providing funding to renewable energy project developers that face scarcity of funding in the delivery of projects due to disruption caused in lending markets and project cycles as a result of COVID-19.
Some of the projects and, in particular, the renewable energy projects to be financed by the Fund are expected to fall under Annex II of the Environmental Impact Assessment (EIA) Directive 2011/92/EU in which case the projects would be subject to an EIA based on Annex III of the EIA Directive. The legal documentation to be entered into between the Bank and the Fund will include an obligation on the Fund Manager to ensure that the portfolio is in compliance with the national law, EU environmental legislation as well as the EIB Environmental and Social Standards.
The Bank will require the Fund Manager to take all the requisite measures to ensure that contracts for the implementation of the projects financed by the Fund will be tendered in accordance with the relevant applicable EU procurement legislation Directive 2014/23/EU / 2014/24/EU or 2004/18/EC / 2014/25/EU or 2004/17/EC, where applicable, as well as Directive 92/13/EEC or Directive 89/665/EEC as interpreted by the Court of Justice of the EU, with publication of tender notices in the Official Journal of the EU, as and where required.