KH-78-07-447-EN-D

Making it work More information GEEREF

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

Contact
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

info@eif.org

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

GEEREF
investing in tomorrow

ENV 7 0700_leaflet_MEP.indd 1 12/11/07 12:43:37

 What is the Global
Energy Efficiency and
Renewable Energy Fund?
GEEREF is an innovative global risk capital fund
to mobilise private investment in energy efficiency
and renewable energy projects in developing
countries and economies in transition. Established
by the European Commission, GEEREF aims to
aims to accelerate the transfer, development and
deployment of environmentally sound technologies
to the world’s poorer regions and thereby help to
bring secure, clean and affordable energy to their
people. GEEREF is both a development tool and
a contribution to global efforts to fight climate change.
Fund structure
GEEREF is a public-private partnership offering
risk sharing and co-funding opportunities for
commercial and non-commercial investors.
It will invest in regional sub-funds that specialise in
providing equity finance – financing in return for
shareholdings – to project developers and small and
medium-sized enterprises (SMEs). The sub-funds
will be required to demonstrate that the projects
they invest in contribute to the aims of GEEREF.
ENV 7 0700_leaflet_MEP.indd 2
Technological scope
Finance will be provided to a broad mix of energy
efficiency and renewable energy technologies,
such as small hydropower, biomass and on-
shore wind farms. Solar power could also provide
stable energy solutions for remote areas.
Beneficiaries
GEEREF supports renewable energy and energy
efficiency project developers and SMEs. The focus
is on projects below €10 million which are generally
ignored by commercial investors and international
financial institutions. Only projects that meet strict
investment criteria can qualify for GEEREF funding.
Geographical scope
GEEREF will give special emphasis to serving the needs
of the ACP group of 79 African, Caribbean and Pacific
developing countries. It can also support regional
funding in Latin America, Asia and states neighbouring
the EU. Priority will be given to investment in countries
with energy efficiency and renewable energy policies
that are conducive to private-sector engagement.
Fund size and potential
GEEREF’s initial funding target was
€100 million but pledges received already
total over €110 million. Depending on the
share of private-sector involvement, this could
mobilise additional capital of up to €1 billion.
Benefits
Investments could bring almost 1 gigawatt
of clean energy capacity to recipient countries,
serving up to 3 million people with sustainable
energy services and saving up to 2 million tonnes
of carbon dioxide emissions. These investments
would also reduce harmful indoor and outdoor
air pollution and create jobs and income.
Sources of funding
The European Commission intends to put
€80 million into GEEREF over the four years
2007-2010. Several European governments,
international financial institutions and
commercial organisations have expressed
interest in co-financing GEEREF.
12/11/07 12:43:46