Release date: 21 March 2016
Promoter – Financial Intermediary
FORESIGHT GROUP LLPLocation
Description
Investment fund targeting debt securities related to renewable energy and energy efficiency projects in Italy
Objectives
The fund seeks to provide innovative debt financing in the form of mini bonds to smaller renewable energy projects in Italy.
Sector(s)
- Energy - Electricity, gas, steam and air conditioning supply
- Services - Public administration and defence; compulsory social security
Proposed EIB finance (Approximate amount)
EUR 40 million
Total cost (Approximate amount)
EUR 200 million
Environmental aspects
Most of the projects to be financed by the fund are expected to fall under Annex II of Environmental Impact Assessment (EIA) Directive 2011/92/EU, leaving it to the national competent authority to determine on the basis of Annex III of that directive whether an environmental impact assessment is required. During appraisal, the fund manager's environmental and social management capacity and due diligence procedures will be reviewed to ensure compliance with the Bank's standards and the principles of EU environmental directives (including the EIA Directive, Habitats Directive and Birds Directive, Water Framework Directive and Industrial Emissions Directive), as applicable.
Procurement
The fund's investment guidelines will be required to ensure that procurement procedures applied by the promoters of the underlying investments financed by the fund are in line with the provisions of the relevant directives and the Bank's Guide to Procurement.
Status
Signed - 1/01/2018
Disclaimer
Before financing approval by the Board of Directors, and before loan signature, projects are under appraisal and negotiation. The information and data provided on this page are therefore indicative.
They are provided for transparency purposes only and cannot be considered to represent official EIB policy (see also the Explanatory notes).