Release date: 22 May 2017
Promoter – Financial Intermediary
EVOLUTION II GP (MAURITIUS) HOLDINGS LTD,INSPIRED EVOLUTION INVESTMENT MANAGEMENT (PTY) LTDLocation
Description
Equity investment into Evolution II Fund targeting renewable energy, energy efficiency and other resource efficiency projects and related corporate investments in sub-Saharan Africa.
Objectives
The fund will focus on renewable energy infrastructure and energy efficiency projects, as well as potential growth equity investments in corporates involved in these sectors in Sub-Saharan Africa.
Sector(s)
- Energy - Electricity, gas, steam and air conditioning supply
Proposed EIB finance (Approximate amount)
USD 30 million (EUR 27 million)
Total cost (Approximate amount)
USD 250 million (EUR 219 million)
Environmental aspects
The underlying projects are mainly small/medium-sized renewable energy and energy/resource efficiency projects located outside the EU. These projects need to comply with the Bank's environmental and social principles and standards or equivalent. This requirement will become part of the legal documentation with the fund.
Procurement
The Bank will require the fund manager to ensure that implementation of all EIB-eligible underlying projects is done in accordance with the Bank's Guide to Procurement. Overall, most of the project promoters are expected to be private companies and the fund manager will have to verify during their due diligence whether they have received any special or exclusive rights, as well as verify that the principles and provisions of the guide are respected, as relevant.
Status
Signed - 27/03/2019
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).