Funding of up to EUR 70 million by EIB to support Dutch district heating projects

By District Energy posted 10-14-2020 16:46

  

Think GeoEnergy

Summary

The European Investment Bank (EIB) and Asper Investment Management Ltd. have signed an investment agreement worth EUR 30 million for investments in four district heating projects in the Netherlands. This agreement will enable the EIB to consider additional investments into new district heating projects in the Netherlands up to EUR70 million.

The EIB financing supports an equity investment vehicle called “Dorothea” that will build a diversified portfolio of projects in various Dutch municipalities. Dorothea was set up by Asper Investment Management, a specialised investment firm, to acquire and build an exclusive portfolio of sustainable district heating projects in the Netherlands. The EIB is joined in Dorothea by four other leading institutional investors and will be a member of Dorothea’s Investor Committee.

The EU bank’s investment is backed by a guarantee from the European Fund for Strategic Investments (EFSI), the main pillar of the Investment Plan for Europe under which the EIB and the European Commission are working together as strategic partners, with the EIB’s financing operations boosting the competitiveness of the European economy.

Several Dutch municipalities have very ambitious plans for becoming climate neutral within the next decade,” said the head of the EIB’s Amsterdam office, Els Sweeney-Bindels. “As the EU’s climate bank, we are there to support this kind of investment. The structure of this operation shows that intelligent ways of financing can be profitable for both nature and businesses alike.

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#News
#Netherlands
#DistrictHeating
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