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Project details
Green for Growth Fund, Southeast Europe SA, SICAV-SIF
| Type of entry | Project |
|---|---|
| Date (start - end) | 31.12.2017 - 31.12.2023 |
| Scheduled status | Completed |
| Areas of intervention | |
| Sectors |
23183 - Energy conservation and demand- side efficiency |
| Locations |
Albania Bosnia and Herzegovina Republic of North Macedonia Serbia Kosovo* Montenegro |
| Donors |
European Commission
European Commission LOI 15, 03/086 + 800 6 7 8 9 10 11 |
| Implementers |
DG NEAR, D5, Unit for Western Balkans Regional Cooperation and Programmes European Investment Fund (EIF) |
| Beneficiaries |
Albania Bosnia and Herzegovina Kosovo* Montenegro Serbia Republic of North Macedonia |
| Description | The Action supports the Green for Growth Fund, GGF, which was initiated in 2009 to facilitate energy efficiency (EE) in the public and private sector and to advance renewable energy (RE) based on a proven public private partnership model. For this purpose GGF combines a broad range of public, multilateral and private investors and managers delivering consistently high environmental impact exceeding its targets set for CO2 emission reductions and energy savings. GGF provides financing and technical assistance to financial institutions to enhance their participation in the EE and RE sectors and also makes direct investments in renewable energy projects or related innovative fields. The GGF TA Facility, operating hand in hand with the GGF, provides critical support to the Fund in achieving its goal of promoting EE/RE and reducing CO2 emissions. There is a recognized need in the Western Balkans for both improving energy efficiency in households, businesses and municipalities, and generating new, clean energy from renewable resources. This will help the region to meet its growing need for cleaner energy, while reducing dependence on imported sources and implementing savings and efficiency gains. The Action will catalyze substantial investments in the energy sector, and generate both energy savings and reductions in CO2 emissions. The GGF will continue to play a leading role in harnessing environmental impact, while deepening the support for EE/RE finance. At the same time, the Fund itself will benefit from additional capacity in Western Balkans, further strengthening its sustainability and its ability to transfer know-how across sectors and markets. |
* This designation is without prejudice to positions on status, and is in line with UNSCR 1244 and the ICJ Opinion on the Kosovo declaration of independence