MED-ENEC - Energy Efficiency in the Construction Sector in the Mediterranean

MED-ENEC -

External cooperation programmes - European Commission

Information:

Name of Financing Organisation: 
Global Energy Efficiency and Renewable Energy Fund (GEEREEF)
Type of Financing Organisation: 
Other
Country: 
Luxembourg
City: 
Luxembourg
Type of Measures/ Technologies: 
Energy Efficiency
Other
Countries eligible for financing: 
Many countries (please check with the organisation)
Eligible to: 
Other
SME
Type of Financing: 
Equity financing
Grant
Technical Assistance
Other
Financing range (EUR): 
For funding ~€10-12 millions, for technical assistance~€0.5-1 million
Description & Conditions: 
Application Process No formal application process, please refer to the website and send a private placement memorandum or any other relevant documentation. Public Private Partnership (PPP) initiated by the Directorate General for Environment and Directorate General for Europe Aid Co-operation Office (AIDCO) of the European Commission. It is sponsored by the European Union, Germany and Norway and is advised by the European Investment Bank Group (European Investment Bank and the European Investment Fund). The GEEREF will support regional funds for sub-Saharan Africa, including the Caribbean and Pacific Island States, Latin America, Asia, North Africa and other EU neighbouring countries. Priority will be given to investments in countries with energy efficiency and renewable energy policies that are conducive to private sector engagement. GEEREF’s beneficiaries are small and medium size (i.e. € 5-10 million) renewable energy and energy efficiency projects and enterprises in developing countries and economies in transition. The GEEREF supports renewable energy and energy efficiency project developers and SMEs. The focus be on projects below €10 million as these are mostly ignored by commercial investors and International Finance Institutions. In addition to utility-based projects, investments will include manufacturing and assembly businesses, consumer, SME, and micro-finance intermediaries. Equity or grants for technical assistance The GEEREF will provide risk capital in areas where previously none was available. The major part of the GEEREF will be used to provide "affordable" risk capital to different types of investment projects. In addition, the fund will include a technical assistance facility (around 10 % of the total fund size) to engage local and international technical expertise for improving project proposals and business plans. This combination will make the fund a 'one stop shop,' which in turn will reduce transaction costs and improve the fund’s overall performance. • Structured as a Fund-of-Funds, GEEREF invests in private equity funds that specialise in providing equity finance to small and medium-sized project developers and enterprises (SMEs). • These SMEs should focus on renewable energy and energy efficiency projects and/or technologies. The candidate private equity funds should focus on projects requiring up to €10 million equity investment and fulfilling a substantial gap in the market. • The candidate private funds must have a pipeline of environmentally and financially sustainable projects and must meet strict investment criteria in order to qualify for GEEREF funding. • GEEREF does not directly provide funding to renewable energy and energy efficiency projects or enterprises. For funding ~€10-12 millions, for technical assistance~€0.5-1 million Application Process No formal application process, please refer to the website and send a private placement memorandum or any other relevant documentation. Address of the Organization: 5 Allée Scheffer L-2520 Luxembourg Grand Duchy of Luxembourg Telephone : +352 43 79 1 Email: geeref@eif.org Webpage: www.geeref.com http://ec.europa.eu/environment/climat/pdf/key_elements.pdf Address of the Organization: 5 Allée Scheffer L-2520 Luxembourg Grand Duchy of Luxembourg Telephone : +352 43 79 1 Email: geeref@eif.org Webpage: www.geeref.com http://ec.europa.eu/environment/climat/pdf/key_elements.pdf
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