Global Energy Efficiency and Renewable Energy Fund (GEEREF)
The Global Energy Efficiency and Renewable Energy Fund (GEEREF), as a Fund-of-Funds, invests in private equity funds that specialize in providing equity finance to small and medium-sized clean energy projects in developing countries. The GEEREF aims to:
- Obtain benefits from accelerated deployment of energy efficiency and renewable energy technologies,
- Achieve high leverage of public finance by offering preferential returns to private funds,
- Achieve high degree of financial sustainability
Fund management companies, financial institutions, project developers or individuals that intend to develop a clean energy investment fund or expand an existing fund into clean energy can propose seek finance. Developers of clean energy projects can also submit proposals for investment funds. Proposals are expected to (1) Present a financially sustainable business plan generating a fair return for investors and a realistic pipeline. (2) Specify environmental and socio-economic impacts. (3) Focus on small and medium sized clean energy projects and companies. (4) Require long-term patient investment capital. (5) Locally grounded, professional fund management team, preferable with a track record in the clean, energy sector, or at least the capacity to become qualified or to liaise with other parties for that purpose. GEEREF's investment period closed in the end of May 2019 and it is now fully invested.
EUR 222 million