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An infrastructure fund targeting non-residential energy efficiency projects in the UK.
The Fund aims at achieving energy efficiency gains for assets/infrastructure in which it will invest, delivering a minimum level of energy savings and receiving a commercial return on its investments.
Most of the projects in the existing pipeline of the Fund are expected not to fall under the EIA Directive 85/337/EC, as amended, in which case the projects would not be subject to an EIA. If an underlying investment is subject to an EIA, the fund manager will be required to obtain the non-technical summary of it, and where relevant written confirmation from the competent authority that the investment will not have any significant negative impact on sites of nature conservation.
The Fund’s investment guidelines will be required to ensure that procurement procedures applied by the underlying investments financed by the Fund are in line with the provisions of the relevant Directives.