Release date: 26 May 2016
Promoter – Financial Intermediary
KGAL Investment Management GmbH & Co. KG
Renewable energy fund investing in medium-sized projects mainly in Europe
The fund aims to invest in medium-sized renewable energy projects (mainly onshore wind, solar photovoltaic (PV) and hydro). The fund seeks to invest in the EU and neighbouring countries.
Proposed EIB finance (Approximate amount)
EUR 100 million
Total cost (Approximate amount)
EUR 500 million
Most, if not all, of the renewable energy projects financed by the fund are expected to fall under Annex II of the Environmental Impact Assessment (EIA) Directive 2011/92/EU in which case the projects may be subject to a full EIA following a screening based on Annex III of the EIA Directive by the competent authorities. The promoter's capacity and procedures will be assessed to ensure that the fund management and its investee companies are in compliance with the Bank's environmental and social requirements for infrastructure fund activities.
The fund's 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. Most, if not all, of the projects financed by the fund are expected not to be subject to public procurement procedures as outlined in Directive 2004/17/EC or 2014/25/EU where applicable.
Signed - 8/07/2017
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).