ITALIAN ENERGY EFFICIENCY FUND II

Promoter – Financial Intermediary

FONDO ITALIANO PER L'EFFICIENZA ENERGETICA SGR SPA

Location

• EU Countries
• Italy

Description

Investment fund targeting energy efficiency and renewable energy projects mainly in Italy

Objectives

The project is in line with both the EIB's priority of financing renewable energy and energy efficiency projects and the EU's objectives on climate change and security of energy supply.

Sector(s)

• Transport - Transportation and storage
• Industry - Manufacturing
• Energy - Electricity, gas, steam and air conditioning supply
• Industry - Construction

Proposed EIB finance (Approximate amount)

EUR 40 million

Total cost (Approximate amount)

EUR 175 million

Environmental aspects

Details will be reviewed during appraisal on the Fund's environmental and social due diligence procedures for ensuring compliance with relevant EU and national regulation and the EIB's Environmental and Social Standards, as well as the capacity of the Fund Manager to assess and monitor environmental and social risks and impacts. If an underlying investment is subject to an environmental impact assessment (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 EIB will require the Fund Manager to take all the requisite measures to ensure that contracts for the implementation of the projects financed by the Fund will be tendered in accordance with the relevant applicable EU procurement legislation. Directive 2014/23/EU/ 2014/24/EU or 2004/18/EC / 2014/25/EU or 2004/17/EC, where applicable, as well as Directive 92/13/EEC or Directive 89/665/EEC as interpreted by the Court of Justice of the EU, with publication of tender notices in the Official Journal of the EU, as and where required.

Status

Signed - 6/08/2020