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    Reference: 20200506
    Release date: 28 July 2020

    Promoter – Financial Intermediary

    EIFFEL INVESTMENT GROUP SAS

    Location

    Description

    Top-up fund to be established alongside the Eiffel Energy Transition Fund, with the aim of providing funding to renewable energy project developers that face scarcity of funding in the delivery of projects due to disruption caused in lending markets and project cycles as a result of COVID-19.

    Objectives

    Top-up fund to be established alongside the Eiffel Energy Transition Fund, with the aim of providing funding to renewable energy project developers that face scarcity of funding in the delivery of projects due to disruption caused in lending markets and project cycles as a result of COVID-19.

    Sector(s)

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

    Proposed EIB finance (Approximate amount)

    EUR 30 million

    Total cost (Approximate amount)

    EUR 150 million

    Environmental aspects

    Some of the projects and, in particular, the renewable energy projects to be financed by the Fund are expected to fall under Annex II of the Environmental Impact Assessment (EIA) Directive 2011/92/EU in which case the projects would be subject to an EIA based on Annex III of the EIA Directive. The legal documentation to be entered into between the Bank and the Fund will include an obligation on the Fund Manager to ensure that the portfolio is in compliance with the national law, EU environmental legislation as well as the EIB Environmental and Social Standards.

    Procurement

    The Bank will require the Fund Manager to take all the requisite measures to ensure that contracts for the implementation of the projects financed by the Fund will be tendered in accordance with the relevant applicable EU procurement legislation Directive 2014/23/EU / 2014/24/EU or 2004/18/EC / 2014/25/EU or 2004/17/EC, 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 EU, as and where required.

    Status

    Signed - 23/11/2020

    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

    EU Countries Energy