EEEF Fund launched
The European Commission, the European Investment Bank (EIB), the Cassa Depositi e Prestiti (CDP) and Deutsche Bank announced the launch of the European Energy Efficiency Fund (EEEF).
The EEEF aims to provide market-based financing for commercially viable public energy efficiency and renewable energy projects within the European Union.
The fund is the centrepiece of a new sustainable energy facility that the European Parliament and Council of Ministers agreed to launch using unspent funds from the European Energy Programme for Recovery for a new sustainable energy facility.
It will support EU member states in meeting their objective to, by 2020, reduce greenhouse gas emissions by 20%, increase renewable energy usage by 20%, and lower energy consumption through a 20% improvement in energy efficiency. It will target the substantial potential for energy efficiency and small scale renewable energy in the European public sector.