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Signature(s)

Amount
€ 25,000,000
Countries
Sector(s)
Tajikistan : € 1,250,000
Armenia : € 1,250,000
Bulgaria : € 2,500,000
Türkiye : € 20,000,000
Energy : € 25,000,000
Signature date(s)
12/09/2011 : € 1,250,000
12/09/2011 : € 1,250,000
12/09/2011 : € 2,500,000
12/09/2011 : € 20,000,000
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Summary sheet

Release date
16 November 2010
Status
Reference
Signed | 12/09/2011
20100222
Project name
Promoter - financial intermediary
Crescent Clean Energy Fund Turkey

Crescent Capital

Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
Up to EUR 25 million
EUR 200 million
Description
Objectives

An investment fund targeting renewable energy sectors in Turkey and neighbouring countries. The fund manager plans to complete between 10 to 15 investments.

The fund aims to make a commercial return whilst contributing to the increase of the share of electricity from renewable energy sources in Turkey and neighbouring countries.

Environmental aspects
Procurement

The environmental impacts of the renewable energy projects financed by the fund are likely to be limited, with no significant negative residual effects. Due to their technical characteristics, some of these investments may fall either under Annex I or Annex II of the EU EIA Directive 85/337/EC, as amended by Directives 97/11/EC and 2003/35/EC. In the former case a mandatory EIA is required while in the latter 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 national and European environmental regulations.

The majority of the projects to be financed by the fund will be located outside the EU and will therefore need to comply with Chapter 3 of EIB’s Guide to Procurement on operations outside the EU. Projects located in the EU will instead need to comply with EU Procurement Directive 2004/17/EC if applicable.

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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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