Green for Growth Fund
Green for Growth Fund S.A., SICAV-SIF
Luxembourg, Luxembourg
About
Founded in 2009, Green for Growth Fund is a renewable energy company headquartered in Luxembourg, Luxembourg specializing in Solar, Wind, Hydro.
Green for Growth Fund is a Luxembourg-based SICAV-SIF that finances renewable energy, energy efficiency and resource efficiency projects in EU Accession and Neighbourhood regions, including Southeast Europe, Eastern Europe, the Caucasus, Türkiye and the Middle East and North Africa. It invests directly and through local financial institutions, and provides advisory and capacity building services to partners. The fund is managed by Finance in Motion and was launched in 2009 as an initiative of the European Investment Bank, the European Union and KfW Development Bank. It reports impact using the eSave tool and the Impact Scoring Tool, and is aligned with the Operating Principles for Impact Management.
Headquarters
Founded
Focus areas
Products & services
Business models
Value chain
Service areas (2)
Renewable energy and efficiency financing
Private debt and equity financing for renewable energy, energy efficiency and resource efficiency projects, mainly via local financial institutions and directly in projects.
Advisory and Capacity Building
Technical assistance, training, impact monitoring and green lending product development for partner financial institutions and sector stakeholders.
Locations
Headquarters
Boulevard Royal 14, L-2449, Luxembourg, Luxembourg
Service regions
Projects
5Cibuk 2 wind farm
Wind farm co-financed by GGF via UniCredit Bank Serbia after winning 2023 auctions; construction has begun.
Oslomej solar power project
50 MW solar power generation project on the former Oslomej coal mine site in Kičevo, financed with EUR 25.7 million in project financing.
Karavasta Solar Power Plant
Solar power plant in Albania developed by Voltalia SA, referenced in GGF project financing for Albania's first privately funded renewable project.
A101 store solar installation
USD 18 million investment into A101, Türkiye's second-largest retail chain, decarbonising store operations across 81 cities via large-scale solar installation.
Ruisi Wind Farm
Wind farm project referenced in GGF portfolio, developed by Peri LLC.
Credentials & affiliations
Certifications
BlueMark Practice Leader
Partnerships
UniCredit Bank Serbia, KRK Kreditimi Rural i Kosovës, Banka për Biznes Kosovo, AIK Banka Serbia, ProCredit Bank Bosnia & Herzegovina, Federation of Egyptian Banks, Bank Lviv, Victoriabank, Moldova Agroindbank (MAIB), Acba Bank, BKT Kosovo, ESM, Renalfa IPP, Finance in Motion
Sustainability
1.4M
Tonnes CO₂/yr avoided
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