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eeef Annual Report 2013

2013 November • Municipality of Ringkøbing-Skjern cooperating with eeef on technical assistance • Ore Valley Housing Association and the Region of Rhône Alpes cooperate with eeef on tech- nical assistance May • Financing of energy efficiency upgrade of University Hospital S. Orsola Malpighi in Italy • City of Cordoba cooperates with eeef on technical assistance December • eeef reaches financial closing for second equity investment, City of Rennes’ CHP plant, and the Bolloré transaction (green transportation initiative for the cities of Paris, Lyon and Bordeaux) • Cities of Marbella, Terrassa and Elche cooperate with eeef on technical assis- tance June • eeef reaches financial closing for first equity investment, city of Orléans’ CHP plant in France • La Palma cooperates with eeef on technical assistance September eeef enters into green on-lending facility with Banca Transilvania in Romania Investment Process • Initial screening of project in line with eeef’s eligibility criteria for investments • Portfolio fit assessment • In case initial screening is positive, detailed DD to be initiated • Further project details required (financial model, comprehensive project description/ investment memo, technical details etc.) DB conducts financial, technical and legal review: • Financial evaluation • Technical and legal evaluation • Environmental evaluation (vali- dation of required CO2 savings for potential projects) DB prepares an investment proposal based on the due diligence to be presented to eeef’s Investment Commit- tee and Management Board • Negotiation of legal documentation • Disbursement of funds 6 months INITIAL SCREENING DECISION TO START DETAILED DUE DILIGENCE (DD) DEUTSCHE BANK (DB) DUE DILIGENCE PREPARATION OF INVESTMENT COMMITTEE INVESTMENT COMMI- TTEE/MANAGEMENT BOARD APPROVAL PREPARATION OF FINANCIAL CLOSING The European Energy Efficiency Fund at a glance 11