Centrica

The Three Seas Investment Fund (3SIIF) in Central and Eastern Europe has announced plans to invest up to between €3 billion ($3.3 billion) and €5 billion ($5.5 billion) in energy, transport and digital infrastructure projects.

To date, the founding members of the investment fund, Poland’s development bank BGK and Romania’s Exim Bank, have contributed €500 million ($550 million). In 2019, the two banks signed the founding act of the Three Seas Initiative Investment Fund.

Related stories
EIB and UN expand cooperation on climate action
EIB to support efficiency and renewables adoption by SMEs in Latvia
NYSERDA unveils Co-Investment Fund for emerging clean energy startups

Beata Daszynska-Muzyczka, the president of the Supervisory Board of the 3SIIF, said the fund is “…a financial instrument, complementary to the EU funds and instruments and national budgets, based on commercial rules.

“…we have signed an agreement with Amber Infrastructure to be the Investment Advisor to the Fund. This is a crucial moment for the Fund, as from this moment the Fund begins to act operationally.

“Investments in transport projects will boost trade in the region while improving north-south energy infrastructure connectivity will enhance security. We have to jointly improve competitiveness of the region, which is the only way to achieve a united and sustainable EU.”

The funding of climate-friendly projects is a hot topic set for discussion at this year’s European Utility Week and POWERGEN EUROPE conference. Click here to register to attend or more information about the event.

Members of 3SIIF include Latvia, Austria, Bulgaria, Croatia, the Czech Republic, Estonia, Hungary, Lithuania, Poland, Romania, Slovakia and Slovenia.