EU launches capital fund for energy efficiency projects

Mar 28, 2008 01:00 AM

The European Commission said it has launched its Global Energy Efficiency and Renewable Energy Fund (GEEREF).
The commission said it will put EUR 80 mm into the fund from 2007 to 2010 to kick-start the initiative.

The commission foresees total initial funding from public and commercial sources of EUR 150-200 mm, and this is expected to mobilise additional risk capital of at least EUR 300 mm and possibly up to 1 bn in the longer term.
The fund will be used to mobilise private investments in energy efficiency and renewable energy projects in developing countries and economies in transition.

Source / Thomson Financial
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