eeef provides senior financing for the refurbishment projects in the Région Rhône-Alpes

Grenoble / Luxembourg - The Société Publique Locale d’Efficacité Energétique (SPL) and the European Energy Efficiency Fund (eeef) reached financial close for a €5m senior financing facility. This medium term financing is specifically designed for the construction phase of the SPL’s refurbishment projects.  First in line with the financial solutions provided by the SPL to the projects, this agreement paves the way for raising further long term financing this summer and launching  its first renovation projects this fall.

The SPL was initiated by the Région Rhône-Alpes (France), associated with a number of public authorities in the Région and is dedicated to implement energy-efficient refurbishment projects of the public buildings, including renewable energy production. The projects embrace an aging public infrastructure (high schools, schools, gymnasiums) in the municipalities of the Région.

The SPL is expected to lead a new ambitious thermal renovation initiative– an area commonly viewed to attract few investments. By setting an example of upgrading the public buildings, while going beyond standard thermal regulations, the SPL aims to achieve its 2050 objectives of energy consumption and greenhouse gas reduction.

The European Energy Efficiency Fund (eeef) S.A., SICAV-SIF is a “société d’investissement à capital variable” governed by Luxembourg law and was initiated by the European Commission in cooperation with the European Investment Bank. The initial capitalization provided by the European Commission was increased with contributions from the sponsors European Investment Bank, Cassa Depositi e Prestiti as well as the Investment manager Deutsche Bank.