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European Investments Bank's 2020 Fund

Volume 503: debated on Thursday 7 January 2010

To ask the Minister of State, Department for Business, Innovation and Skills which companies and organisations will be eligible to apply for support for green infrastructure projects from the European Investments Bank’s 2020 Fund; and over what period this Fund is intended to remain open to applications. (307621)

I have been asked to reply.

The 2020 European Fund for Energy, Climate Change and Infrastructure will be advised by an independent advisory team. The advisory team will be responsible for appraising potential investments. The Fund will focus on greenfield investments within target sectors. Investments by the Fund will be equity participations in companies which directly or indirectly own or operate infrastructure in the following target sectors:

1. Transport—TEN-T (trans-European transport networks as defined in Decision No. 1692/96/EC of the European Parliament).

2. Energy—TEN-T (trans-European energy networks as defined in Decision No. 1364/2006/EC of the European Parliament) including electricity and gas, transportation, interconnection, storage, infrastructure (including oil and gas storage, regas terminals, pipelines and related facilities and high voltage transmission) and electricity/gas distribution, electricity/gas/oil production, oil storage, as well as carbon capture and storage.

3. Mature renewables energies—including sustainable energy production, clean transport infrastructure, energy distribution and systems for hybrid transport (e.g. wind, solar, geothermal, biomass, biogas, hydro, waste to energy projects.

The advisory team will commence in the first quarter of 2010. The investment period is expected to be a four- year period from 4 March 2010.