Release date: 28 July 2020
Promoter – Financial Intermediary
EIFFEL INVESTMENT GROUP SASLocation
Description
Top-up fund to be established alongside the Eiffel Energy Transition Fund, with the aim of providing funding to renewable energy project developers that face scarcity of funding in the delivery of projects due to disruption caused in lending markets and project cycles as a result of COVID-19.
Objectives
Top-up fund to be established alongside the Eiffel Energy Transition Fund, with the aim of providing funding to renewable energy project developers that face scarcity of funding in the delivery of projects due to disruption caused in lending markets and project cycles as a result of COVID-19.
Sector(s)
- Energy - Electricity, gas, steam and air conditioning supply
Proposed EIB finance (Approximate amount)
EUR 30 million
Total cost (Approximate amount)
EUR 150 million
Environmental aspects
Some of the projects and, in particular, the renewable energy projects to be financed by the Fund are expected to fall under Annex II of the Environmental Impact Assessment (EIA) Directive 2011/92/EU in which case the projects would be subject to an EIA based on Annex III of the EIA Directive. The legal documentation to be entered into between the Bank and the Fund will include an obligation on the Fund Manager to ensure that the portfolio is in compliance with the national law, EU environmental legislation as well as the EIB Environmental and Social Standards.
Procurement
The Bank 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 - 23/11/2020
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).