Release date: 24 April 2023
Promoter – Financial Intermediary
EXAGON IMPACT CAPITAL LLCLocation
Description
Fund focused on equity and equity-like investments, focusing predominantly on renewable energy and related infrastructure sectors in Latin America and the Caribbean.
Objectives
The fund will predominantly target greenfield infrastructure investments in renewable energy and sustainable infrastructure in Latin America and the Caribbean. The fund will have a significant focus on financing and supporting climate action and environmental sustainability in the target region.
Sector(s)
- Energy - Electricity, gas, steam and air conditioning supply
- Water, sewerage - Water supply; sewerage, waste management and remediation activities
- Telecom - Information and communication
Proposed EIB finance (Approximate amount)
USD 30 million (EUR 28 million)
Total cost (Approximate amount)
USD 300 million (EUR 280 million)
Environmental aspects
The fund will be required to develop an environmental and social policy and establish the appropriate management systems so as to comply with the environmental and social requirements of the Bank. The assessment of the environmental and social impacts and risks will be part of the standard due diligence process, which the fund will have to carry out for each underlying investment, thereby ensuring that the portfolio and these investments are in compliance with national law and in line with the principles and standards of relevant EU environmental legislation as well as the EIB's Environmental and Social Standards.
Procurement
The Bank will require the fund manager to take all requisite measures to ensure that contracts for the implementation of the projects financed by the fund are tendered in line with the Bank's Guide to Procurement.
Status
Approved - 20/09/2023
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).