AUEB Energy & Sustainability Club had the unique opportunity to organize a speech of Mr. Manolis Maroulakis – Managerial Adviser – Project Finance Transactions EUROPEAN INVESTMENT BANK
Mr. Maroulakis presented the modern techniques of project finance used by European Investment Bank today along with the upcoming projects in Southeastern Europe. He stressed the importance of the new 2020 Project Bond Initiative, and in particular the Project Bond Credit Enhancement financial instrument. Project Bonds target is to stimulate capital market financing for large-scale infrastructure projects in the areas of trans European networks in transport (TEN-T) and energy (TEN-E), as well as broadband telecommunications. From now until 2020, €500 billion is estimated to be needed for the implementation of the Trans- European Transport Network (TEN-T) program. In the energy sector, public and private entities in the Member States will need to spend around €400 billion on distribution networks and smart grids, another €200 billion on transmission networks and storage as well as €500 billion to upgrade and build new generation capacity between now and 2020.The initiative is designed to enable promoters of infrastructure projects to attract additional private finance from institutional investors such as insurance companies and pension funds. Finally, Mr. Maroulakis expressed his support and congratulated the members of the AUEB Energy & Sustainability Club for these innovative activities and the so well organized Energy Speaker Series.