Algeria
Egypt
Israel
Jordan
Lebanon
Libya
Morocco
Palestine *
Syria *
TunisiaCOP27: EIB Global and AllianzGI announce $100 million for renewable energy projects
The Emerging Market Climate Action Fund (“EMCAF”) has announced a $25 million investment into Alcazar Energy Partners II, a fund providing early-stage equity financing to develop, construct and operate renewable energy projects in the Middle East, North Africa, Eastern Europe and Central Asia. This commitment is in parallel to EIB Global, the dedicated arm for outside the EU of the European Investment Bank (EIB) Group, which provides $75 million to the fund.
Alcazar Energy Partners II has a target size of $500 million and will invest in onshore wind and solar photovoltaic, with additional potential investments in hydropower, biomass or battery-based electricity storage or other low-carbon technologies.
The Fund is expected to create 15.000 construction jobs and contribute to the installation of over 2 Gigawatt of new clean energy capacity. Thereby saving 3.2 million tons of greenhouse gas emissions per year, generating clean energy to power over one million households.
Countries covered:
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Algeria
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Egypt
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Israel
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Jordan
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Lebanon
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Libya
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Morocco
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Palestine *
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Syria *
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Tunisia
