Release date: 14 September 2018
Promoter – Financial Intermediary
TAALERI ENERGIA FUNDS MANAGEMENT OYLocation
Description
The project consists of an investment fund targeting renewable energy projects primarily located in the European Union (EU).
Objectives
The fund aims to invest in utility scale greenfield and operational renewable energy projects. The focus of the fund's investment strategy is greenfield onshore wind and photovoltaic (PV) solar farms, primarily located in the EU.
Sector(s)
- Energy - Electricity, gas, steam and air conditioning supply
Proposed EIB finance (Approximate amount)
EUR 60 million
Total cost (Approximate amount)
EUR 300 million
Environmental aspects
Most, if not all, of the renewable energy projects financed by the fund are expected to fall under Annex II (or for projects outside the EU, would fall if implemented inside the EU) of the Environmental Impact Assessment (EIA) Directive 2014/52/EU amending 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 fund manager'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.
Procurement
For investments inside the EU, the fund manager will be required to take all the requisite measures to ensure that contracts for the implementation of the projects financed by the fund have been or will be (as appropriate) tendered in accordance with the relevant applicable EU procurement legislation (Directive 2014/23/EU and/or Directive 2014/24/EU and/or Directive 2014/25/EU, where applicable, as well as Directive 92/13/EEC or Directive 89/665/EEC) as interpreted by the Court of Justice of the EU, with publication of tender notices in the Official Journal of the European Union, as and where required. For investments outside the EU the fund manager shall ensure that implementation of the projects they invest in has been and will be done in accordance with the bank's Guide to Procurement (in line with the bank's Equity Risk Guidelines).
Status
Signed - 6/06/2019
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).