The European Investment Bank’s Board of Directors approved on March 10 a potential investment of up to 75 million euro in a European energy efficiency fund to be launched with the European Commission and other investors.

The fund’s aim will be to finance sustainable energy projects developed at mainly local or regional level by public authorities, or private companies, such as utilities or Energy Service Companies (ESCOs), acting on their behalf.

The fund is part of a new European Energy Efficiency Facility (EEE-F) being launched by the European Commission using unallocated funds from the EU’s European Energy Programme for Recovery.

For a Q&A on the new facility, click here.