Release date: 24 September 2019
Promoter – Financial Intermediary
RGREEN INVESTLocation
Description
The project consists of an investment fund focusing on renewable energy projects in the European Economic Area, with around 50% of the funds expected to be invested in France and Italy.
Objectives
The fund will mainly invest equity and quasi-equity in small to medium size wind, solar and other/innovative technologies (biogas/biomass, energy storage, energy efficiency and green mobility), in the European Economic Area.
Sector(s)
- Energy - Electricity, gas, steam and air conditioning supply
Proposed EIB finance (Approximate amount)
EUR 75 million
Total cost (Approximate amount)
EUR 500 million
Environmental aspects
Most of the Fund's underlying infrastructure investments will either require a full environmental impact assessment (EIA) or a screening decision by the national competent authority to determine whether an EIA is required or not. The Bank will require the fund to ensure that its underlying investments respect the relevant EU directives and the environmental and social standards of the EIB.
Procurement
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, 2014/24/EU, 2014/25/EU, where applicable, as well as Directives 89/665/EEC and 92/13/EEC) as interpreted by the Court of Justice of the EU, with publication of tender notices in the EU Official Journal, as and where required.
Status
Signed - 13/12/2019
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).