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    Reference: 20170290
    Release date: 18 July 2017

    Promoter – Financial Intermediary

    BROWNFIELDS GESTION

    Location

    Description

    An infrastructure fund investing in the remediation and regeneration of industrially polluted land in the EU (mainly in France and Belgium)

    Objectives

    The purpose of the fund is to acquire contaminated urban and industrial sites from private and public owners, remediate the polluted soil and groundwater and sell the remediated land to third parties for development. The developments on the remediated sites may potentially comprise social and affordable housing and buildings with high energy-efficiency performance in which the fund may act as co-developer.

    Comments

    The EU Cohesion Policy promotes an integrated development approach and the reuse of brownfield sites in preference to greenfield sites. Brownfield regeneration can address health, ecological and economic threats from site contamination and helps to cope with rising population in urban areas and avoiding urban sprawl.

    Sector(s)

    Proposed EIB finance (Approximate amount)

    EUR 40 million

    Total cost (Approximate amount)

    EUR 250 million

    Environmental aspects

    Depending on their technical characteristics, the brownfield remediation and development may fall under Annex II of Directive 2011/92/EU. This will be reviewed during appraisal and addressed in the investment guidelines of the fund. The situation regarding environmental liabilities, taking into account Directive 2004/35/EC on environmental liabilities with regard to the prevention and remedying of environmental damage, will be addressed during the appraisal.

    Procurement

    The promoter is a private company which is not operating in the utilities sector and does not have the status of a contracting authority. Thus, it is not covered by EU directives on procurement.

    Status

    Signed - 21/12/2017

    Disclaimer

    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).

    Related tags

    Poland Spain Luxembourg France Belgium Urban development