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    Reference: 20210427
    Release date: 15 July 2021

    Promoter – Financial Intermediary

    ENERGIEFONDS OVERIJSSEL II BV

    Location

    Description

    Loan to the Energy Fund of the Province of Overijssel for investment in small-scale energy efficiency and renewable energy projects.

    Objectives

    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.

    Sector(s)

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

    Proposed EIB finance (Approximate amount)

    EUR 50 million

    Total cost (Approximate amount)

    EUR 183 million

    Environmental aspects

    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.

    Procurement

    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.

    Status

    Approved - 25/11/2021

    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

    The Netherlands Energy Industry