Release date: 14 April 2015
Promoter – Financial Intermediary
Infrastructure fund dedicated to renewable energy projects in Europe.
The fund will invest in small to medium-sized assets, with a view to aggregating these investments into larger portfolios.
- Energy - Electricity, gas, steam and air conditioning supply
Proposed EIB finance (Approximate amount)
EUR 50 million
Total cost (Approximate amount)
EUR 245 million
The fund manager will be required to ensure that all investments comply with the EIB’s environmental and social standards. The legal documentation to be entered into by the Bank will include an obligation on the fund manager to ensure that the portfolio companies are in compliance with EU legislation. The fund’s environmental due diligence procedures will be reviewed during appraisal, in particular its procedures for ensuring compliance with EU environmental directives (including the Environmental Impact Assessment Directive, Habitats Directive and Birds Directive).
The fund is expected to invest mostly in private sector renewable energy projects. The Bank will require the fund manager to ensure that contracts for the implementation of the project invested into have been/shall be tendered in accordance with the applicable EU procurement legislation (Directives 2004/18/EC and/or 2004/17/EC 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 EU Official Journal, as and where required.
Signed - 23/07/2015
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The data provided on this page is therefore indicative and cannot be considered to represent official EIB policy (see also the Explanatory notes).