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CONFIDENTIAL
Enabling Energy Finance:Green for Growth Fund, Southeast EuropeEnergy Efficiency (EE) and Renewable Energy (RE)
Agenda Panel 4, Istanbul, 23rd November 2012
Mr. Peter Coveliers - Chairman of the Green for Growth Fund (GGF) Investment Committee
CONFIDENTIAL
Initiating Shareholders
Shareholders
Donors and Shareholders
2
TA Facility Donors
• Committed Fund Volume: EUR 191 mil ̴�• Prospective Fund Volume over the next five years: EUR 420 mil• Domicile: Luxembourg SICAV-SIF• First closing: December 17 2009
CONFIDENTIAL
Governance Structure
3
CONFIDENTIAL
GGF Target Region
Finance in Motion office4
CONFIDENTIAL
Objectives and Instruments
5
Objectives
Minimum 20% reduction in energy consumption
Minimum 20% reduction in CO2 emissions
Promotion of renewable energy
Partners
Financial Institutions
Non-Financial Institutions (project finance)
Instruments
Medium to long-term senior loans
Subordinated loans
Letters of credit
Guarantees
Mezzanine debt instruments
Local debt securities
Equity
Technical Assistance support
CONFIDENTIAL
GGF’s three year investment, in building its capacities and reputation in the region, is paying off in the form of portfolio growth and successful TA projects
Fund Performance
6
EUR
mill
ion
in O
utst
andi
ng P
ortf
olio
Num
ber
of T
A pr
ojec
ts
* Projected Values
CONFIDENTIAL
As a public-private partnership (PPP), GGF can leverage donor funds, in the form of first-loss junior C shares, and IFI funds, in the form of mezzanine B shares, to enable flow of private capital, into senior A shares and notes.
Capital Structure - Overview
7
CONFIDENTIAL
Guiding Principles of a new PPP structure
How can a Public-Private Partnership Help?
Donor support a limited and valuable resource Complimentarily – address underserved market segments Additionality – work hand in hand with existing programs “Crowd-in” private investors for demonstration effects Address the larger ecosystem with a multi-level approach Non-distortion – work with already functioning markets Double bottom line
CONFIDENTIAL
PPP in Practice
Banks
PrivateInvestors
Equity Senior DebtMezzanine
PROJECT SPV
PROJECT SPV
Enabling and Enhancing Private Investment
CONFIDENTIAL
Technical Assistance
10
CONFIDENTIAL
Guiding principles and mission of the TAF
Support the Fund‘s mission and strategic direction Produce synergy effects with investments Ensure independence Adhere to principles of transparency
GGF Technical Assistance Facility (TAF)
11
The TAF is meant to foster the development activity of the GGFand – inter alia – to assist partner institutions (PIs) in their
development in the area of EE and RE toward the achievement ofthe Fund‘s mission.
The TAF is meant to foster the development activity of the GGFand – inter alia – to assist partner institutions (PIs) in their
development in the area of EE and RE toward the achievement ofthe Fund‘s mission.
TA Facility Donors
CONFIDENTIAL
• 56 TA projects under management
• Volume of projects under management: EUR 3.5 mil
• Working with 30 Partner Institutions (or potential PIs): 26 FIs + 4 NFIs
• Utilizing 19 different service providers and consulting companies
• Committed TAF Fund Volume EUR 7.5 mil
Key Figures
12
TA measures approved in 2012 in SEE and ENR
by % of projects
TA measures realized in 2011 in SEEby % of projects
CONFIDENTIAL
The Role of Technical Assistance
Banks
PrivateInvestors
Equity Senior DebtMezzanine
PROJECT SPV
PROJECT SPV
Supporting the Fund‘s Mission
CONFIDENTIAL
Thank you for your attention!
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