SOLAS SUSTAINABLE ENERGY FUND PF4EE

Promoter – Financial Intermediary

SOLAS CAPITAL AG

Location

• EU Countries

Description

A guarantee to Solas Sustainable Energy Fund (2018-0414) under the Private Financing for Energy Efficiency programme (PF4EE) to support the realisation of energy efficiency projects in the EU.

Objectives

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

Sector(s)

• Industry - Construction

Proposed EIB finance (Approximate amount)

EUR 8 million

Total cost (Approximate amount)

EUR 160 million

Environmental aspects

This operation intends to bring environmental benefits by supporting schemes that reduce energy consumption and help to mitigate climate change. The individual schemes to be financed are likely to be small and are expected to have a very limited negative environmental impact. Most of the schemes are expected not to fall under the scope of Directive 2011/92/EU on environmental impact assessment (EIA) and therefore not to be subject to an EIA. If an investment scheme is subject to an EIA, the Fund Manager will be required to obtain the non-technical summary, 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 - 17/12/2021