SUSI RENEWABLE ENERGY FUND II

Renewable energy fund investing in small and mid-size projects mainly in Europe

The fund's strategy is dedicated to renewable energy infrastructure projects in the EU, with a focus on small to medium solar photovoltaic (PV) and onshore wind investments.

The fund manager will be required to ensure that all investments comply with the EIB's environmental and social standards. The legal documentation to be entered into by the Bank will include obligation of the fund manager to ensure that the portfolio companies are in compliance with EU legislation. The fund's environmental due diligence procedures will be reviewed during appraisal, in particular its procedures for ensuring alignment and compliance with EU environmental directives (including the Environmental Impact Assessment (EIA) Directive, Habitats Directive and Birds Directive).

The fund is expected to invest mostly in private sector renewable energy projects. The Bank will require the fund manager to ensure that contracts for the implementation of the project invested into have been/shall be tendered in accordance with the EIB Guide to Procurement and relevant applicable EU procurement legislation (Directives 2004/18/EC and/or 2004/17/EC as well as Directives 89/665/EEC and 92/13/EEC) as interpreted by the Court of Justice of the EU, with publication of tender notices in the EU Official Journal, as and where required.