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Signature(s)

Amount
€ 30,669,517.03
Countries
Sector(s)
United Kingdom : € 30,669,517.03
Energy : € 30,669,517.03
Signature date(s)
16/03/2010 : € 30,669,517.03
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Summary sheet

Release date
14 July 2009
Status
Reference
Signed | 16/03/2010
20090199
Project name
Promoter - financial intermediary
EREF European Renewable Energy Fund I

Platina Partner LLP

Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
Up to EUR 40 million.
Indicatively estimated to be around EUR 250 million.
Location
Sector(s)
Description
Objectives

The European Renewable Energy Fund I (“EREF I” or “the Fund”) is a Pan-European fund which makes equity investments in European renewable energy projects and businesses. The majority of the projects in which the EREF I will invest will be primary assets, i.e. projects at financial closure or at construction stages, with a limited portion at development stage to be allowed. The majority of the investments are expected to be in wind powered assets but other energy technologies, particularly solar PV, are expected to be a significant portion of the Fund’s portfolio.

The project aims to participate in a fund which will assist the host countries to reach national and European targets for renewable energy generation and CO2 emissions reduction, while contributing to the security and diversification of energy supply in the EU.

Environmental aspects
Procurement

Most of the renewable energy projects financed by the Fund (wind farms, small hydro, solar) are expected to fall under Annex II of the EIA Directive 85/337/EEC, as amended by Directives 97/11/EC and 2003/35/EC, in which case the projects would be subject to an EIA based on a case-by-case decision or defined criteria set by the competent authority. Details of the Fund’s environmental due diligence procedures will be reviewed during appraisal, in particular its procedures for ensuring compliance with EU Environmental Directives (including EIA Directive, Habitats Directive and Birds Directive).

The Fund’s investment guidelines will be required to ensure that procurement procedures applied for projects financed by the Fund are in line with the provisions of the Directive.

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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).

General enquiries and comments

The EIB is committed to open communication and encourages constructive stakeholder input regarding its activities.
Enquiries and comments concerning the EIB’s involvement in a project or the financing facilities, activities, organisation and objectives of the EIB, can be sent to the EIB Infodesk.
Alternatively, the EIB can be contacted through its external offices.
Queries regarding details of a specific project, in particular when it is under appraisal by the EIB, should preferably be addressed directly to project promoters.

Media enquiries

Media-related enquiries can be addressed to the EIB Press Office. Please also visit our Media information section.

Complaints mechanism

Any complaint regarding alleged maladministration can be lodged via the EIB Complaints Mechanism. The European Ombudsman acts as an independent external accountability mechanism of the EIB.

Zero tolerance against fraud and corruption

The EIB has a zero tolerance policy on fraud or corruption. To report allegations of fraud and corruption relating to EIB-financed projects, please contact the Fraud and Investigation division. All complaints will be treated as strictly confidential and handled in line with the EIB investigation procedures and the Anti-Fraud Policy.

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