European Energy Efficiency Fund (EEE–F) Launched04 Jul
On 1st July 2011, the Commission launched a new European Energy Efficiency Fund (EEE-F) as part of the European Energy Programme for Recovery (EEPR).
It will allocate around EUR 146 million from the EEPR (3.7% of the total EEPR envelope) towards a new financial facility dedicated to projects in energy efficiency and renewable energies. This EU contribution comes from funds mobilised for the EEPR in 2009 which could not immediately be allocated to projects in the sectors of infrastructure, off-shore wind and carbon capture and storage. The setting up of the fund follows an agreement between the Council of Ministers and the European Parliament in December 2010 to a European Commission proposal.
The EEE-F will invest in energy saving, energy efficiency and renewable energy projects, particularly in urban settings, achieving at least 20% energy saving or GHG/CO2 emission reduction.
The fund will offer a wide range of financial products such as senior and junior loans, guarantees or equity participation to local, regional and (where justified) national public authorities to promote sustainable energy investments.