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.
(2) GEEREF has been partly financed with the financial assistance of the European Union. The views expressed herein can in no way be taken to reflect the official opinion of the European Union.