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ARTICLE · 10 MARCH 2011

Europe 2020 Project Bond Initiative

Eversheds Sutherland
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On 28 February 2011 the European Commission launched a public consultation on the "Europe 2020 Project Bond Initiative" (the "Initiative") aimed at boosting the funding of projects with long-term revenue potential in line with the Europe 2020 policy priorities.

United KingdomEnergy and Natural Resources
Michelle Davies
Michelle Davies
Paul-Michael Rebus
Paul-Michael Rebus

Originally published 9 March 2011

On 28 February 2011 the European Commission launched a public consultation on the "Europe 2020 Project Bond Initiative" (the "Initiative") aimed at boosting the funding of projects with long-term revenue potential in line with the Europe 2020 policy priorities. Its objective is to help private project companies to attract capital market funding from investors such as pension funds and insurance companies. The Energy sector has been specifically highlighted as a key area for the initiative.

Background

Project bond issuance has come to a halt as a result of the financial crisis. In addition, long-term investors, notably pension funds and insurers, lack the appetite for the diversity of project risks and currently do not have the specialist expertise required to appraise projects and carry out the resulting analytical and administrative follow-up tasks which used to be performed by specialist insurance providers known as monolines.

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