Monday, October 21, 2019

Rev3 financing

Continuing the last post, the following is from the European Commission's "Clean Energy for All Europeans":

"Several examples of a risk-sharing instruments have been created under the ‘Third industrial revolution’ (rev3), which is a master plan launched in partnership with the private sector, local authorities, schools, universities and the citizens of the Hauts-de-France region. With all the possibilities offered by digital technologies, the energy transition and a new mobility, the region wanted to move towards a society and economy that are more responsible, sustainable, collaborative and better connected. Among the financial tools specific to rev3, the most important is the CAP 3RI fund, intended to finance business investment. CAP 3RI is a 'layered' fund which invests risk capital in enterprises developing 3RI projects: the region participates, using the European Regional Development Fund (ERDF), providing equity financing alongside public and private investors. The EIB, supported by the EFSI, provides mezzanine debt to the fund and commercial banks provide senior debt at project level. In addition to financing, the region also offers technical assistance thanks to a grant of up to EUR 2.5 million drawn from ERDF resources. The investment projects eligible to CAP 3RI financing are in the field of renewable energies, energy efficiency, energy management and smart grids, smart transport and the circular economy (Figure 20)."

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