What GEEREF Is
Advised by the European Investment Bank Group, GEEREF is an innovative Fund-of-Funds catalysing private sector capital into clean energy projects in developing countries and economies in transition.
GEEREF IN A NUTSHELL
- GEEREF is a Fund-of-Funds advised by the European Investment Bank Group.
- GEEREF invests in private equity funds which focus on renewable energy and energy efficiency projects in emerging markets.
- GEEREF's funds concentrate on infrastructure projects that generate clean power through proven technologies with low risk.
- GEEREF's funds target attractive financial investments that also deliver a strong positive environmental and developmental impact.
- GEEREF has invested in 15 funds across Africa, Asia, Latin America and the Caribbean.
- GEEREF's investment period closed in the end of May 2019 and it is now fully invested.
A PUBLIC-PRIVATE PARTNERSHIP
GEEREF was structured to catalyse private sector investments into funds and underlying projects by leveraging the public sector seed contributions:
- GEEREF was initiated by the European Commission in 2006(1) and launched in 2008 with funding from the European Union(2), Germany and Norway, totalling € 112 million.
- GEEREF successfully concluded its fundraising from private sector investors on May 2015, which brought the total funds under management to € 222 million.
- GEEREF invests in private equity funds which, in turn, invest in private sector projects, thereby further enhancing the leveraging effect of GEEREF's investments. It is estimated that, with € 222 million of funds under management, over € 10 billion could be mobilised through the funds in which GEEREF participates and the final projects in which these funds invest.
(1) For more information, please click here.