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Making it work More information GEEREF

The European Investment Fund (EIF) is assisting Mobilising public and private finance towards global access The Global Energy Efficiency
the European Commission and other investors to climate-friendly, affordable and secure energy services:
in setting up and launching GEEREF. As trustee The Global Energy Efficiency and Renewable Energy Fund.
and Renewable Energy Fund
for the Commission, EIF is also responsible for Communication from the Commission. COM(2006) 583.
administration of the Commission’s participation
and acting as adviser to GEEREF. EIF, a European jrec/energy_fund_en.htm
Union body, is a financial institution that specialises
in risk financing for SMEs through investment in
private equity funds and issuing of guarantees.

What happens next? European Investment Fund
GEEREF is expected to make its first investments 43 Avenue John F. Kennedy
in regional sub-funds in early 2008. L-2968 Luxembourg
Tel. +35 2 42 66 88 1

Credits: European Commission and iStockphoto

Investments by
GEEREF aim to:
• reduce poverty through access
to sustainable energy services
• cut greenhouse gas emissions
• achieve an attractive return for investors

Innovative financing
for clean energy

investing in tomorrow

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What is the Global Technological scope Fund size and potential
Energy Efficiency and Finance will be provided to a broad mix of energy GEEREF’s initial funding target was
Renewable Energy Fund? efficiency and renewable energy technologies, €100 million but pledges received already
GEEREF is an innovative global risk capital fund such as small hydropower, biomass and on- total over €110 million. Depending on the
to mobilise private investment in energy efficiency shore wind farms. Solar power could also provide share of private-sector involvement, this could
and renewable energy projects in developing stable energy solutions for remote areas. mobilise additional capital of up to €1 billion.
countries and economies in transition. Established
by the European Commission, GEEREF aims to
Beneficiaries Benefits
aims to accelerate the transfer, development and
deployment of environmentally sound technologies GEEREF supports renewable energy and energy Investments could bring almost 1 gigawatt
to the world’s poorer regions and thereby help to efficiency project developers and SMEs. The focus of clean energy capacity to recipient countries,
bring secure, clean and affordable energy to their is on projects below €10 million which are generally serving up to 3 million people with sustainable
people. GEEREF is both a development tool and ignored by commercial investors and international energy services and saving up to 2 million tonnes
a contribution to global efforts to fight climate change. financial institutions. Only projects that meet strict of carbon dioxide emissions. These investments
investment criteria can qualify for GEEREF funding. would also reduce harmful indoor and outdoor
air pollution and create jobs and income.
Fund structure
Geographical scope
GEEREF is a public-private partnership offering
GEEREF will give special emphasis to serving the needs
Sources of funding
risk sharing and co-funding opportunities for
commercial and non-commercial investors. of the ACP group of 79 African, Caribbean and Pacific The European Commission intends to put
It will invest in regional sub-funds that specialise in developing countries. It can also support regional €80 million into GEEREF over the four years
providing equity finance – financing in return for funding in Latin America, Asia and states neighbouring 2007-2010. Several European governments,
shareholdings – to project developers and small and the EU. Priority will be given to investment in countries international financial institutions and
medium-sized enterprises (SMEs). The sub-funds with energy efficiency and renewable energy policies commercial organisations have expressed
will be required to demonstrate that the projects that are conducive to private-sector engagement. interest in co-financing GEEREF.
they invest in contribute to the aims of GEEREF.

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