GEEREF's funds invest in emerging markets with appropriate regulatory frameworks for clean energy, where high quality renewable energy resources and steadily reducing technology costs create compelling investment opportunities.
A TRIPLE BOTTOM LINE
GEEREF's investments aim to bring equal benefits for a triple bottom line:
- People: GEEREF seeks to provide access to sustainable energy and increase energy efficiency in developing countries and economies in transition;
- Planet: GEEREF seeks to fight climate change and contribute to a sustainable environment; and
- Profit: GEEREF seeks to achieve robust financial returns.
GEEREF invests exclusively in funds targeting projects in emerging markets that qualify as recipients for Official Development Assistance. There are currently 146 countries recognised as such by the Organisation for Economic Co-operation and Development and GEEREF’s funds can target all of these other than candidates for accession to the European Union. The full list of Development Assistance Committee countries for 2014-2016 flows is available here.
Priority is given to investment in countries with appropriate policies and regulatory frameworks on energy efficiency and renewable energy.
GEEREF invests in specialist funds developing small to medium-sized projects in the following sectors:
- Renewable Energy – including small hydro, solar, wind, biomass and geothermal; and
- Energy Efficiency – including waste heat recovery, energy management in buildings, co-generation of heat and power, energy storage and smart grids.
GEEREF funds typically work with experienced local developers with a pipeline of projects seeking investment pre-construction.
TARGET FUNDS' CHARACTERISTICS
GEEREF engages with funds early in their development and seeks to enhance strategy, team capability and structure, being often the first cornerstone investor in a fund. Underpinning GEEREF’s investment strategy is a fundamental commitment to financial, environmental and social sustainability, principles which are mutually reinforcing.
GEEREF funds typically have:
- Strong technical and private equity transaction skills;
- A regional focus, an established local presence and networks to generate deal-flow; and
- An overall size of between € 50 million and € 200 million.
GEEREF NeXt, the successor fund to GEEREF, is currently under development.
Its environmental and social management system (ESMS) can be downloaded in the following languages: English, Arabic, Chinese, French, Portuguese, Russian and Spanish. A revised English version of the ESMS, updated as of March 2017, can be accessed here.