Release date: 24 July 2019
Promoter – Financial Intermediary
FINANCE IN MOTION GMBHLocation
Description
The project concerns an investment in the Green for Growth Fund, a layered debt fund targeting energy efficiency and renewable energy investments in South-Eastern Europe and in the Eastern and Southern Neighbourhood regions.
Objectives
The fund's mission is to contribute to enhancing energy efficiency and renewable energy in the targeted regions, in the form of a public-private partnership with layered risk-return structure.
Sector(s)
- Energy - Electricity, gas, steam and air conditioning supply
Proposed EIB finance (Approximate amount)
EUR 25 million
Total cost (Approximate amount)
EUR 569 million
Environmental aspects
Most of the current and future projects do not fall under the Environmental Impact Assessment (EIA) Directive 85/337/EEC, as amended, in which case the projects would not be subject to an EIA. If an underlying investment were 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.
Procurement
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 and EIB requirements as applicable.
Status
Under appraisal - 8/07/2019
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).