Global Energy Efficiency and Renewable Energy (GEEREF)
[Global Energy Efficiency and Renewable Energy (GEEREF) ]
GEEREF is an innovative Fund-of-Funds, investing in specialist renewable energy and energy efficiency private equity funds developing small and medium-sized projects in emerging markets. GEEREF's investments aim to bring equal benefits for a triple bottom line: people (providing access to sustainable energy and increasing energy efficiency), planet (fighting climate change and contributing to a sustainable environment) and profit (seeking to achieve robust financial returns). By the end of 2013, GEEREF had signed commitments to 6 funds across Africa, Asia, Latin America and the Caribbean.
GEEREF was launched in 2008 with funding from the European Union, Germany and Norway, totalling EUR 112 m. GEEREF is currently seeking a similar amount of private capital from private sector investors, to bring the total funds under management above EUR 200 m. The first private capital commitments were signed in the end of 2013.
GEEREF is advised by the European Investment Bank Group, combining the institutional expertise in climate mitigation investments in emerging markets of the EIB with the Fund-of-Funds management expertise of the EIF.