GLOBAL ENERGY EFFICIENCY  & RENEWABLE ENERGY FUND Fighting Climate Change by  Investing in Developing Countries GEEREF TBL...
<ul><li>The EIB Group   </li></ul><ul><li>The EU, Germany and Norway </li></ul>A Pioneering Partnership of…
<ul><li>Significantly increased targets for renewable energy lending since its introduction in 2002 </li></ul><ul><li>EURO...
<ul><li>Fund-of-Funds with EUR 108m (target  EUR 200m+) in commitments to date </li></ul><ul><li>Strategy </li></ul><ul><l...
Appointment Board of Directors G E E R E F Investors IC GEEREF Appointment Approval RE and EE INVESTEE PROJECTS Fund 1 Fun...
Waterfall REFLOW B  SHAREHOLDERS Repayment of commitments (investment in GEEREF) + 4% Return on Invested Amounts A  SHAREH...
PIPELINE 10 First Screening Latin America  50 100 Fund G 1st Priority 15 First Screening Worldwide 100 250 Fund F 10 First...
<ul><li>Contact Details: </li></ul><ul><li>Cyrille ARNOULD </li></ul><ul><li>E-mail:  arnould @eib.org   </li></ul><ul><li...
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GLOBAL ENERGY EFFICIENCY & RENEWABLE ENERGY FUND

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Cyrille Arnould, Head of GEEREF - European Investment Bank Group - Luxembourg

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GLOBAL ENERGY EFFICIENCY & RENEWABLE ENERGY FUND

  1. 1. GLOBAL ENERGY EFFICIENCY & RENEWABLE ENERGY FUND Fighting Climate Change by Investing in Developing Countries GEEREF TBLI Conference Amsterdam, November 12-13 2009
  2. 2. <ul><li>The EIB Group </li></ul><ul><li>The EU, Germany and Norway </li></ul>A Pioneering Partnership of…
  3. 3. <ul><li>Significantly increased targets for renewable energy lending since its introduction in 2002 </li></ul><ul><li>EURO 7 billions already invested in renewable energy </li></ul><ul><li>In line with the “Action Plan for EU energy policy 2007-2009” adopted in March 2007 by the European Council, the EIB has reinforced its contribution in the area of renewable energy (RE) : </li></ul><ul><ul><li>New annual target of EUR 800 million (minimum) lending to RE projects </li></ul></ul><ul><ul><li>50% of EIB lending to electricity generation associated with RE technologies </li></ul></ul><ul><ul><li>Raise EIB financing share of total costs for RE projects from 50 to 75%, in particular for “emerging RE technologies” and investments contributing significantly to EE </li></ul></ul><ul><ul><li>Development of financial instruments, including framework facilities, for smaller-scale investments and use of structured finance and investment funds </li></ul></ul><ul><ul><li>EIB’s new targets will further diversify the Bank’s RE projects portfolio by developing less mature markets both in and outside the EU and by favouring the deployment of less-developed RE sources (other than wind and hydro schemes and such as solar power, biomass or bio-fuels). </li></ul></ul>The EIB and Renewable Energy
  4. 4. <ul><li>Fund-of-Funds with EUR 108m (target EUR 200m+) in commitments to date </li></ul><ul><li>Strategy </li></ul><ul><li>Small sized Projects through Renewable Energy and Energy Efficiency funds in Emerging Markets (Africa, Latin America, Asia) </li></ul><ul><li>Triple bottom line </li></ul><ul><ul><li>Planet: Climate Change </li></ul></ul><ul><ul><li>People: Access to energy </li></ul></ul><ul><ul><li>Profit: Market-based with SRI approach </li></ul></ul><ul><li>Advised by dedicated EIB/EIF Team </li></ul><ul><li>3 Investment Professionals + Lawyer + Intern + Office Manager + EIB’s Energy Experts </li></ul><ul><li>Investments </li></ul><ul><ul><li>1 deal signed (India) </li></ul></ul><ul><ul><li>1 further approved (South Africa) </li></ul></ul><ul><ul><li>1 further in DD (China) </li></ul></ul><ul><ul><li>Strong Pipeline of ~20 further potential Deals </li></ul></ul><ul><ul><li>3-4 Investments planned in 2009 </li></ul></ul><ul><ul><li>Investment period of 4 years, Target Portfolio of ~15 fund investments </li></ul></ul>GEEREF Strategy and Status
  5. 5. Appointment Board of Directors G E E R E F Investors IC GEEREF Appointment Approval RE and EE INVESTEE PROJECTS Fund 1 Fund 2 Up to 30% Co-investments with GEEREF or other funds Investment Decision Fund 3 A shareholders (EU, D, NOR) Governance B shareholders Priority Distribution 4-10% hurdle STRUCTURE: An innovative PPP model Investment Investment
  6. 6. Waterfall REFLOW B SHAREHOLDERS Repayment of commitments (investment in GEEREF) + 4% Return on Invested Amounts A SHAREHOLDERS Repayment of commitments (investment in GEEREF) B SHAREHOLDERS Up to 10% Return on Invested Amounts A + B SHAREHOLDERS 95% Pro rata to commitments EIF as Advisor 5%
  7. 7. PIPELINE 10 First Screening Latin America 50 100 Fund G 1st Priority 15 First Screening Worldwide 100 250 Fund F 10 First Screening Mexico, Brazil n.a. 75 Fund H 10 First Screening Africa ~40 80 Fund E 10 In Due Diligence PR China ~40 100 Fund C 10 Approved SADC Already done at ~39m 80 Fund B 12.5 Signed India 50 150 Fund A Potential GEEREF Commitment in EUR m Stage Geography Expected First Closing Size in EUR m Expected Fund Size in EUR m Fund
  8. 8. <ul><li>Contact Details: </li></ul><ul><li>Cyrille ARNOULD </li></ul><ul><li>E-mail: arnould @eib.org </li></ul><ul><li>Tel: +352 4379 – 86 664 </li></ul>THANK YOU FOR YOUR ATTENTION!

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