The Eurazeo green fund supports a first project
The EIF investment of €70m brings the fund to €200m after five months, more than half of ESMI’s target of €350m. Once at scale, Eurazeo expects to be able to support 50 European operators of small and medium-sized ships in their decarbonization objectives.
Targeted investment areas include ships with environmentally friendly technologies, innovative port equipment and infrastructure, and assets that support the development of offshore renewable energy.
The first project supported by the fund is the financing of a jack-up vessel for offshore wind farms. The vessel will be used for the construction, repair and maintenance of European offshore wind farms and will be financed under a sale-leaseback agreement for the Harren & Partner group.
Euorazeo said the vessel is currently in the North Sea working on Germany’s 54-turbine Nordsee One wind farm.
ESMI was the first green leasing fund supported by the EIF through the European Fund for Strategic Investments (EFSI) SME-friendly private credit scheme; The EIF reaches out to investors including public bodies, insurers, corporations, private sales networks and international investors.
The impact of the fund’s investments will be measured using quantitative emission reduction indicators using a methodology reviewed by independent experts and audited annually by a third party.
Alain Godard, CEO of the EIF, said: “Our cooperation with Eurazeo, with the support of the EFSI, demonstrates Europe’s strong commitment to improving access to finance for small and medium-sized enterprises in Europe. Given the EU Green Deal and the focus on sustainability in the Multiannual Financial Framework, this operation provides support for an alternative lender as part of the EU’s green transition.”
Sylvain Makaya, Partner at Eurazeo, declared: “At a time when we must at least halve emissions by 2030 to hope to limit global warming to 1.5°C, we are committed to being an active contributor to the solution by deploying significant funds like ESMI. that provide a response to environmental and climate issues.
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