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Stefano Panighetti, Policy Officer, DG Energy, EC Financial Instruments for Energy Efficiency

Stefano Panighetti, Policy Officer, DG Energy, EC Financial Instruments for Energy Efficiency. EEE F Facility overview.  EPPR amended regulation 2010 Fund (EEE F) Launched 1st July 2011 265 M€ (EC, EIB, CDP, DB)

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Stefano Panighetti, Policy Officer, DG Energy, EC Financial Instruments for Energy Efficiency

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  1. Stefano Panighetti, Policy Officer, DG Energy, EC Financial Instruments for Energy Efficiency

  2. EEE F Facility overview  EPPR amended regulation 2010 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)

  3. 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)

  4. EEE F Eligibility criteria • Atleast 20 % primary energy savings for EE projects, (higherfor 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

  5. EEE F Technical Assistance (TA) Objective: support project development services for technical and financial preparation of projects • 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

  6. 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

  7. Financial Structure – Layered fund Size at first closing € 265m Target Up to € 700m Senior – A Shares Institutional investors Notes Public banks & institutional investors EIB, CDP € 117m Mezzanine - B Shares Public financial institutions EIB, CDP, Deutsche Bank Junior/FLP - C Shares € € 23m EU EU € 125m

  8. 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 (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

  9. Links & Contacts • 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 lada.strelnikova@db.comZarpana Massud-Baqa +49(69)910-49858 zarpana.massud-baqa@db.com

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