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Signature(s)

Amount
€ 54,000,000
Countries
Sector(s)
The Netherlands : € 54,000,000
Services : € 54,000,000
Signature date(s)
11/11/2021 : € 54,000,000
Link to source

Summary sheet

Release date
19 October 2020
Status
Reference
Signed | 11/11/2021
20190772
Project name
Promoter - financial intermediary
LIMBURGS ENERGIE FONDS 2
PROVINCIE LIMBURG
Proposed EIB finance (Approximate amount)
Total cost (Approximate amount)
EUR 54 million
EUR 345 million
Location
Sector(s)
Description
Objectives

The operation consists of a framework loan to Limburgs Energie Fonds (LEF), which was established in 2013 by the Province of Limburg (the Netherlands) as a financial instrument providing funding to regional businesses and projects in the areas of carbon-saving energy (production, optimisation and transport), energy efficiency, circular economy (including waste management) and marginally asbestos sanitation. LEF is managed by Finquiddity Vermogensbeheer BV which operates under the trade name Polestar Capital.

Carbon savings for the Province of Limburg through renewable energy, energy efficiency and circular economy projects, waste treatment facilities and sustainable transport.

Environmental aspects
Procurement

Based on the technical characteristics of the projects, most of the projects to be financed by the Fund are not expected to have any significant environmental impacts. However, projects may fall under Annex II of the EIA Directive 2014/52/EU amending Directive 2011/92/EU, in which case the national competent authority will determine whether the projects are subject to an environmental impact assessment (EIA) based on Annex III of the EIA Directive. Details of the Fund Manager's environmental due diligence system and procedures for ensuring compliance with relevant EU (including EIA Directive, Habitats and Birds Directives) and national environmental and social legislation as well as the capacity of the Fund Manager to assess and monitor environmental and social risks and impacts will be reviewed during appraisal. The legal documentation to be ultimately entered into between the Bank and the Fund will include an obligation on the Fund Manager to ensure that the portfolio companies are in compliance with national law, EU environmental legislation as well as with the Bank's Environmental and Social Standards.

The Bank will require the Fund Manager to ensure that contracts for the implementation of the projects financed by the Fund shall be tendered in accordance with the relevant applicable EU procurement legislation Directives 2014/23/EU, 2014/24/EU and 2014/25/EU, as well as Directives 89/665/EEC and 92/13/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.

Link to source
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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).

Documents

Environmental and Social Data Sheet (ESDS) - LIMBURGS ENERGIE FONDS 2
Publication Date
29 Dec 2020
Document language
Main Topic
Lending
Document Number
134377318
Document Focus
Environmental Information
Project Number
20190772
Sector(s)
Regions
Countries
Publicly available
Download now
scoreboard - LIMBURGS ENERGIE FONDS 2
Publication Date
9 Feb 2021
Document Language
English
Main Topic
lending
Document Number
138552601
Document Focus
EFSI legal requirements
Document Type
Scoreboard
Project Number
20190772
Last update
10 Feb 2021
Sector(s)
Services
Countries
The Netherlands
Publicly available
Download now
Other links

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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