The Green Shipping Fund, managed by PROW Capital, is a financing initiative dedicated to promoting environmentally sustainable practices in the maritime industry. The fund provides capital to shipowners and operators for projects that enhance energy efficiency, reduce emissions, and adopt green technologies, thus supporting the transition towards more sustainable shipping operations.
Objective(s) and scope
The Green Shipping Fund (GSF) is a EUR 420 million private debt fund which provides tailor-made debt financing for new and existing vessels that comply with PROW Capital’s eligibility criteria, or for emissions-reducing retrofits.
PROW Capital’s ambition is to make zero emission shipping a reality and become a viable long-term alternative to the traditional banks in the maritime sector.
Financing value
Total fund value of EUR 420,000,000, with an average investment size of EUR 15-45 million for short- and deep-sea vessel owners and operators located in Europe.
Eligibility criteria (if available)
Eligible ships outperform standard “reference ships” measurably by at least 20%. Eligibly ships include a.o.:
- Vessels fuelled by LNG, LPG, Methanol, ammonia and hydrogen
- Fully Electric ships
- Hybrid Eco ships, combining batteries with MGO or low emission fuels
- Emissions-reducing retrofits, such as wind-assist, etc.
Excluded are crude tankers, ships dedicated to the transportation of coal, and ships running on HFO.
