Institutions backing the Fund
The European Commission is one of the main institutions of the European Union. It represents and upholds the interests of the European Union as a whole, drafts proposals for new European laws and manages the day-to-day business of implementing European Union policies and spending European Union funds. Promoting sustainable economic and social reform in Europe is at the heart of the Commission's political agenda. The general European Union energy and climate goals have been formalized by the European Commission into the Europe 2020 strategy.
The Council of Ministers and the European Parliament agreed in December 2010 to a European Commission proposal, made the same year in May, to allocate approximately EUR 146 million from the European Energy Programme for Recovery (i.e. 3.7% of the total EEPR envelope) towards a new financial facility dedicated to sustainable energy. Thereof EUR 125 million are placed as risk capital into the Fund to leverage public and private funding and about EUR 21 million to TA and awareness raising activities.
The 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 European Investment Bank (EIB) is the bank of the European Union and is owned by the 27 Member States. It aims to use its special expertise and resources to make a difference to the future of Europe and its partners by supporting sound investments which further EU policy goals. Around 90 percent of its activity is within the EU, with a focus on six areas: supporting disadvantaged regions, small and medium-sized enterprises, innovation and human capital and projects in the environmental, transport and energy sectors. It also lends to EU partner countries around the world in support of EU development policy and economic partnership agreements.
Cassa Depositi e Prestiti SpA (CDP) is a joint-stock company under public control, with the Italian government holding 70 percent and a broad group of bank foundations holding the remaining 30 percent. CDP manages a major share of the savings of Italians – postal savings – which it uses to help support the growth of the country, providing financing to major strategic sectors: transportation networks and local public services, public building and social housing, energy and communication, support for small and medium enterprises and export finance, research and innovation, the environment and renewable energy. It is a key partner for public entities, the development of infrastructure projects and the growth and international expansion of Italian enterprises.
Investor and Investment Manager
Deutsche Bank is a leading global investment bank with a strong private clients franchise. A leader in Germany and Europe, the bank is continuously growing in North America, Asia and key emerging markets. With more than 100,000 employees in 74 countries (as of December 31, 2010), Deutsche Bank offers unparalleled financial services throughout the world. As a global corporate citizen, it shares the responsibility to ensure that future generations enjoy a healthy environment as well as stable economic and social conditions.
Photography: DALKIA / Jeff Molliere