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    Reference: 20190307
    Release date: 24 July 2019

    Promoter – Financial Intermediary

    FINANCE IN MOTION GMBH

    Location

    Description

    The project concerns an investment in the Green for Growth Fund, a layered debt fund targeting energy efficiency and renewable energy investments in South-Eastern Europe and in the Eastern and Southern Neighbourhood regions.

    Objectives

    The fund's mission is to contribute to enhancing energy efficiency and renewable energy in the targeted regions, in the form of a public-private partnership with layered risk-return structure.

    Sector(s)

    • Energy - Electricity, gas, steam and air conditioning supply

    Proposed EIB finance (Approximate amount)

    EUR 25 million

    Total cost (Approximate amount)

    EUR 569 million

    Environmental aspects

    Most of the current and future projects do not fall under the Environmental Impact Assessment (EIA) Directive 85/337/EEC, as amended, in which case the projects would not be subject to an EIA. If an underlying investment were subject to an EIA, the fund manager will be required to obtain the non-technical summary of it and, where relevant, written confirmation from the competent authority that the investment will not have any significant negative impact on sites of nature conservation.

    Procurement

    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 and EIB requirements as applicable.

    Status

    Under appraisal - 8/07/2019

    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

    Regional - North Africa Regional - Russia, Eastern Europe, the Southern Caucasus Energy