IMPAX NEW ENERGY INVESTORS II

An Investment Fund targeting the renewable energy (solar and wind) sectors in Europe. The fund manager plans to complete between 10 to 15 investments.

The fund aims to make a commercial return whilst contributing to the targeted increase of the share of electricity from renewable energy sources in EU to 20% by 2020.

The environmental impacts of the renewable energy projects (solar, wind farms) financed by the Fund are likely to be limited, with no significant negative residual effects. Due to their technical characteristics, some of these investments may fall under Annex II of the EIA Directive (with regard to the latter, it will be left to the competent authority to decide whether an environmental impact assessment is needed). Details of the Fund’s environmental due diligence procedures wil be reviewed during appraisal, in particular its procedures for ensuring compliance with EU Environmental Directives (including EIA Directive, Habitats Directive and Birds Directive).

The Fund’s investment guidelines will be required to ensure that contracts for the implementation of individual schemes have been tendered in accordance with the relevant EU legislation, including publication of tender notices in the EU Official Journal, as and where appropriate. Details will be verified during appraisal.