Signature(s)
Summary sheet
European Commission and the Bank will be core investors of the Fund.
Fund targeting sustainable energy projects promoted by public authorities in the EU.
A dedicated financial instrument promoted by the European Commission and the Bank in order to support energy efficiency projects and renewable energy sources, particularly at urban and regional level.
This operation intends to bring about environmental benefits by supporting projects that help to mitigate climate change. The individual schemes to be financed are likely to be small. In principle, none of the investments shall have a significant negative impact on any site of nature conservation importance, including sites protected under the “Habitats” and “Birds” Directives (92/43/EEC and 79/409/EEC respectively) and the associated Natura 2000 network. The Fund Manager will be assessed for its capacity and procedures to ensure compliance with national and European environmental and biodiversity regulations as well as its capacity to support the Bank's Public Disclosure Policy, which aims at facilitating access by the public to environmentally relevant information.
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.