The 2020 European Fund for Energy, Climate Change and Infrastructure, known as the Marguerite Fund, is a pan-European equity fund that invests in renewables, energy and transport. It is based in
Luxembourg
Luxembourg ( ; lb, Lëtzebuerg ; french: link=no, Luxembourg; german: link=no, Luxemburg), officially the Grand Duchy of Luxembourg, ; french: link=no, Grand-Duché de Luxembourg ; german: link=no, Großherzogtum Luxemburg is a small lan ...
.
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Funding
The Marguerite Fund was established in 2010 by the European Investment Bank
The European Investment Bank (EIB) is the European Union's investment bank and is owned by the EU Member States. It is one of the largest supranational lenders in the world. The EIB finances and invests both through equity and debt solutions ...
, Caisse des dépôts et consignations
The Caisse des dépôts et consignations (CDC; ) is a French public sector financial institution created in 1816, and part of the government institutions under the control of the Parliament. Often described as the "investment arm" of the French ...
, Cassa Depositi e Prestiti
Cassa Depositi e Prestiti S.p.A. (also kwown as CDP or CDP Group) is a prominent Italian investment bank founded on November 20, 1850, in Turin. Its main duty was to finance public works like roads and waterworks during the reign of Victor Emman ...
, Instituto de Crédito Oficial
The Official Credit Institute (Spanish; ''Instituto de Crédito Oficial'': ICO) is a Spanish lending institution. Its functions include funding investment projects and the assistance for the liquidity needs of Spanish companies. It also operates as ...
, Kreditanstalt für Wiederaufbau
The KfW, which together with its subsidiaries DEG, KfW IPEX-Bank and FuB forms the KfW Bankengruppe ("banking group"), is a German state-owned investment and development bank, based in Frankfurt. As of 2014, it is the world's largest national d ...
and Powszechna Kasa Oszczędności Bank Polski
Powszechna Kasa Oszczędności Bank Polski Spółka Akcyjna (also known as ''PKO Bank Polski S.A.'', ''PKO BP S.A.'') is Poland's largest bank founded in 1919. It provides services to individual and business clients. The core business activity of ...
as part of the European Economic Recovery Plan.[
] Marguerite I launched following the financial crisis in 2010, at a time when investors had little trust in greenfield infrastructure. In Europe, specifically France and Germany, investments were successful following the 170 million fund. European Fund for Strategic Investments The InvestEU Programme, until 2021 known as the European Fund for Strategic Investments (EFSI), also called the Juncker Plan, is an initiative of EIB Group and the European Commission aimed at boosting the economy through mobilising private financi ...
, doubled the in Marguerite II to 200 million, marking it as the EU bank's largest investment in a infrastructure fund.
Investments
The Marguerite Fund has invested in the Butendiek Wind Farm off Germany,[
] the Tychovo and the Kukinia wind farms in Poland.[
] the Thorntonbank Wind Farm
The Thorntonbank Wind Farm is an offshore wind farm, off the Belgian coast, in water ranging from deep.
Electricity production started in early 2009, with a capacity of 30 MW.
The capacity was increased to a total of 214 MW in 2012 and 325 MW ...
off Belgium,[
] Chirnogeni Wind Farm
Chirnogeni is a commune in Constanța County, Northern Dobruja, Romania.
The commune includes two villages:
* Chirnogeni (historical name: ''Ghiuvenlia'', tr, Güvenli), named after Chirnogi, whence many settlers cameChirnogeni Village HallHist ...
in Romania,[
] Massangis 1 and Toul-Rosières 2 photovoltaic plants in France,[
][
] the Poznań incineration plant in Poland,[
] the Zagreb International Airport
Zagreb Franjo Tuđman Airport ( hr, Zračna luka Franjo Tuđman Zagreb) or Zagreb Airport ( hr, Zračna luka Zagreb) () is an international airport serving Zagreb, Croatia. It is the largest and busiest airport in Croatia. In 2019 it handled 3. ...
in Croatia,[
] the N17/N18 Motorway project in Ireland,[
] and the Autovía de Arlanzon Motorway in Spain. In January 2016, the Marguerite Fund became the second largest investor in the Latvian gas company Latvijas Gāze
A/S Latvijas Gāze is a Latvian natural gas company, which deals in the importation and sale of natural gas.
Latvijas Gāze is owned by Gazprom (34%), Marguerite Fund (28.97%), Uniper Ruhrgas International (18.26%) and Itera-Latvija (16%). ...
.[
]
Unlike other infrastructure funds, Marguerite Fund II invests in greenfield infrastructure cases before they are fully developed, despite the risk.
References
{{Reflist, 2
Infrastructure investment
Private equity firms
European investment banks
Energy in the European Union