Reference: 20200544
Release date: 22 July 2020

Promoter – Financial Intermediary

IMPAX ASSET MANAGEMENT LTD

Location

Description

Equity fund targeting renewable energy projects primarily in Europe.

Objectives

The Fund will target investments in renewable energy (onshore wind, solar photovoltaic (PV), small-scale hydro plants) and renewables enabling infrastructure (e.g. energy storage) primarily in Europe.

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 Bank.

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. Most, if not all, of the projects financed by the fund are expected not to be subject to public procurement procedures as outlined in Directive 2004/17/EC or 2014/25/EU, where applicable.

Status

Under appraisal - 6/07/2020

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