Management of the PtX-Fund by the Power-to-X D&G GmbH

Description

Fund Management / Transaction Services - Promotion of Green Hydrogen Investment Projects - Power-to-X Fund - Initiative on behalf of KfW and the Federal German Government Lot 1: Green hydrogen and its derived products (Power-to-X - “PtX”) have enormous potential to promote socio-ecological, economic transformation and sustainable development in developing countries and emerging markets. In order to support the scale up of global PtX markets, KfW and the Federal German Government have established the Power-to-X D&G GmbH for the promotion of investments in PtX projects. The PtX-Fund shall be managed by a private-sector Fund Manager. The purpose of this tender procedure is to identify and contract among the bidding entities an eligible Manager for the operation of the PtX-Fund. The PtX-Fund will work with project partners (i.a. private companies, public entities or PPPs). The PtX Fund will support projects with non-reimbursable grant funding. The ambition is to enable large-volume investments and to facilitate the market ramp-up of green hydrogen and the establishment of sustainable PtX value chains. The PtX-Fund is planned to be domiciled in Germany as a private legal entity with limited liability; “Gesellschaft mit beschränkter Haftung” (“GmbH”). The designated Manager will act as the Executive Management (the “Geschäftsführung”) of the GmbH. The Federal German Government intends to initially capitalize the PtX Fund with around EUR 550 million. It must however be noted that these financial means are not yet available at the time of launch of this tender. It is expected, but not guaranteed, that the German Federal Government will commit additional funds during the coming years. The designated Manager shall be responsible of the day-to-day management of the activities of the PtX Fund. Furthermore, the Manager will be responsible for the elaboration and implementation of the procedures, the business concepts, operations, and the overall strategy in close cooperation with KfW Development Bank and the German Federal Government. The services to be rendered by the Manager shall include the following fields of actions: operations, allocations of grants for asset financing, transaction advise, allocations of grants for consulting services and reporting. The Terms of Reference for the Fund Manager contain all further details. The Management Agreement will be entered into between KfW and the Power-to-X D&G GmbH and the Fund Manager.