Release date: 8 January 2014
Promoter – Financial Intermediary
Italian Energy Efficiency Fund Manager.Location
Description
The Italian Energy Efficiency Fund will invest in energy efficiency projects, including projects in large cities and with private counterparts. The Fund may invest and/or partner with ESCOs (Energy Services Companies).
Geographical focus will be Italy.
Objectives
The proposed operation will contribute to environmental sustainability, and in particular to tackling climate change. This operation concerns the financing of energy efficiency investments located mainly in Italy, in line with EU and EIB priority objectives of sustainable development, particularly resource efficiency, as well as growth and job creation.
Sector(s)
Proposed EIB finance (Approximate amount)
EUR 25 million
Total cost (Approximate amount)
EUR 150 million
Environmental aspects
Most of the projects of the Fund are expected not to fall under the EIA Directive 85/337/EC, as amended, in which case the projects would not be subject to an EIA. If an underlying investment is subject to an EIA, the fund manager will be required to obtain the non-technical summary of it, and, where relevant, written confirmation from the competent authority that the investment will not have any significant negative impact on sites of nature conservation.
Procurement
The Funds 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.
Status
Signed - 3/08/2016