Investec Climate Action Facility
Date of entry
Investec Bank Limited
- South Africa
The project will support small and medium scale investments in renewable energy and energy efficiency in South Africa.
The operation will support the objectives of the South African Government to increase the share of renewable energy generation and enhance the efficiency of energy use.
Proposed EIB finance
EUR 50 million
EUR 100 million
The overall purpose of the operation is to improve the global environment by supporting projects that help to mitigate climate change. If located in the EU, many of the project schemes would likely fall under either Annexes I or II of the EIA directive (97/11/EC), which would require, respectively, a mandatory EIA or allow the competent authorities to determine the EIA requirements. The schemes to be selected for funding shall comply with EIB social and environmental standards.
It is likely that for most of the projects financed public procurement is not applicable. The Bank will review systems and procedures applied by the financial intermediary (FI) during appraisal, in order to ascertain the FI’s ability to verify the adequate implementation of the Bank’s Guide to Procurement (Guide) in the projects. The Bank will verify compliance with the Guide.
Under appraisal – 22/03/2011.