Call for Expression of interest: London Green Fund

The European Investment Bank is looking to select, through this call for expression of interest, an urban development fund to manage £35 million from the London Green Fund to invest in waste infrastructure within Greater London under the JESSICA initiative

The London Green Fund is a £100 million fund that will invest in climate change relevant projects including waste, decentralised energy and energy efficiency across Greater London. The fund is part of the European Investment Bank and European Commission’s Joint European Support for Sustainable Investment in City Areas (JESSICA) initiative and had the broad remit to provide debt, equity and guarantee investment to support climate change infrastructure projects using urban development funds.

The call for expression of interest is seeking applicants to manage the Waste Urban Development Fund. The focus of the fund will be to invest in urban projects in the development or construction phase that involve the establishment of value adding re-use, recycling and reprocessing facilities, waste to energy facilities or other facilities displacing fossil fuel such as ‘waste to fuel’. It is anticipated that the urban development fund will invest in urban projects primarily through equity or equity type participation however the use of subordinated and senior debt instruments into urban projects has not been specifically excluded.

The selection procedure shall be organized in two stages:

Stage 1: Expressions of interest which are not excluded in accordance with the exclusion criteria will be assessed on the basis of the selection criteria.

Stage 2: All applicants that meet the selection criteria will be invited to submit their offers. The offers will be evaluated on the basis of the award criteria.

Applicants may express their interest, by 4 June 2010 at the latest, in accordance with the terms of the call for expression of interest attached hereto.
A seminar for interested applicants will be held in central London on the morning of Thursday 20 May 2010. Parties interested in applying for the call for expression of Interest for the Waste Urban Development Fund are invited to register their interest in attending this event by e-mailing jessica@eib.org with: organisation name, contact name and position, e-mail address and telephone number. Spaces at this seminar may be limited.

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