Release date: 15 July 2021
Promoter – Financial Intermediary
ENERGIEFONDS OVERIJSSEL II BV
Loan to the Energy Fund of the Province of Overijssel for investment in small-scale energy efficiency and renewable energy projects.
The project provides a loan of up to EUR 50 million to the Energiefonds Overijssel (EFO), an evergreen vehicle established and fully financed by the Dutch province of Overijssel. The financing will leverage the province's investment capacity towards projects in the sectors of renewable energy and energy efficiency.
Proposed EIB finance (Approximate amount)
EUR 50 million
Total cost (Approximate amount)
EUR 183 million
The investments in renewable energy and energy efficiency projects aim at achieving TeraJoule savings in the province of Overijssel. Projects to be financed by the fund are not expected to have a negative environmental impact. Some projects however may fall under Annex II of Environmental Impact Assessment (EIA) Directive 2011/92/EU, in which case the national competent authority determines whether the projects are subject to an EIA based on Annex III of the directive. During appraisal, the fund manager's environmental and social management capacity and due diligence procedures will be reviewed to ensure compliance with the Bank's standards and the principles of EU environmental directives (including the EIA Directive, Habitats Directive and Birds Directive, Water Framework Directive and Industrial Emissions Directive), as applicable.
The fund's investment guidelines will be required to ensure that procurement procedures applied by the promoters of the underlying investments financed by the fund are in line with the provisions of the relevant directives and the Bank's Guide to Procurement.
Approved - 25/11/2021
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).