DG TREN - The Climate Group

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Stefano Panighetti, Policy Officer, DG Energy, EC
Financial Instruments for Energy Efficiency
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EEE F Facility overview
 EPPR amended regulation 2010
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Fund (EEE F)
Launched 1st July 2011
265 M€ (EC, EIB, CDP, DB)
Objective: addressing financial needs of commercially viable EE and
RES projects in a local and public context
Scope: Energy efficiency, renewable energy and clean transport
Tailor made financing: Senior/junior loans, convertible debt, equity
participation,forfeiting schemes…
Commercially managed fund, operating under market conditions
Technical Assistance (TA)
€ 20m (EU), grants for project development financed by the Fund
Awareness raising activities through EPEC (European PPP Expertise
Centre)
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Eligibility and investment portfolio
Investment portofolio
• 70%EE, 20% RES, 10% Clean Urban
Transport
Beneficiaries
• Final Beneficiaries: local/regional public
authorities
• Direct and indirect investments (through
Financial intermediaries)
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EEE F Eligibility criteria
• At least 20 % primary energy savings for EE
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projects, (higher for buildings)
Min. 20 % reduction of CO2 equiv. for RE and
transport
Comply with EU legislation (RE directive,
CHP…)
concrete objectives to mitigate climate
change +multi-annual strategies
proven technologies
Strong support for ESCOs providing
guaranteed energy savings
Projects eligible as from 01.01. 2011
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EEE F Technical Assistance (TA)
Objective: support project development services
for technical and financial preparation of
projects
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TA of total of 20M€ (provided by the EC),
grant (up to 90% of eligible costs)
Min. leverage factor of 20
Only for projects applying for funding to the
EEE- F
Based on ELENA model
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Application process
Initial screening (DB)
Possible TA request (DB)
Due diligence process (DB): financial,
technical,legal review
Investment Committee advisory
opinion (EEE F)
Management Board final decision
based on IC opinion (EEE F)
Once project financed: monitoring,
reporting on financial and environmental
performance
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Financial Structure – Layered fund
Size at first closing
€ 265m
Target
Up to € 700m
Notes
EIB, CDP
Senior – A Shares
€ 117m
EIB, CDP,
Deutsche Bank
EU
Mezzanine - B Shares
€ 23m
Institutional
investors
Public banks & institutional
investors
Public financial
institutions
EU
Junior/FLP - C Shares €
€ 125m
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Role of the Fund in mobilising private
finance
EEE F objective: enhance viable EE and
RES investments at local/regional level within
multiannual strategies to mitigate CC
» Adress market failures
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(information/awareness,TA,…)
Adress Lack of access to capital (specific
financial products…)
Confidence building around EE investment,
Develop and spread ESCO/EPC models,
Offer innovative financing
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Links & Contacts
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On ENER website:
http://ec.europa.eu/energy/eepr/eeef/eeef_en.htm
EEE F website: www.eeef.eu
Contact point at Deutsche Bank:
Lada Strelnikova
+49(69)910-46444
[email protected]
Zarpana Massud-Baqa
+49(69)910-49858
[email protected]
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