Signature(s)
Summary sheet
- Energy - Electricity, gas, steam and air conditioning supply
Equity investment into Evolution II Fund targeting renewable energy, energy efficiency and other resource efficiency projects and related corporate investments in sub-Saharan Africa.
The fund will focus on renewable energy infrastructure and energy efficiency projects, as well as potential growth equity investments in corporates involved in these sectors in Sub-Saharan Africa.
The underlying projects are mainly small/medium-sized renewable energy and energy/resource efficiency projects located outside the EU. These projects need to comply with the Bank's environmental and social principles and standards or equivalent. This requirement will become part of the legal documentation with the fund.
The Bank will require the fund manager to ensure that implementation of all EIB-eligible underlying projects is done in accordance with the Bank's Guide to Procurement. Overall, most of the project promoters are expected to be private companies and the fund manager will have to verify during their due diligence whether they have received any special or exclusive rights, as well as verify that the principles and provisions of the guide are respected, as relevant.