The Energy Efficiency for SMEs initiative – the first European Union-wide programme dedicated to accelerating energy savings in small and medium‑sized enterprises – is on track to surpass its targets following a successful first year of operation.
The initiative delivered €6 billion in financing in 2025, enabling up to 150,000 SMEs across Europe to invest in energy efficiency and decarbonisation measures.
Between 2025 and 2027, the European Investment Bank (EIB) Group aims to provide €17.5 billion in financing to help up to 350,000 SMEs lower their energy costs and reduce their carbon footprint. The EIB Group started the initiative last year in cooperation with the European Commission that also supports the initiative via the InvestEU fund. During the design phase of the Energy Efficiency for SMEs initiative, the Solar Impulse Foundation, a non-profit organisation, also contributed by drawing on insights from its network of more than 1,600 innovative and efficient solutions.
First year results include new EIB credit lines to partner banks in the Netherlands, Poland, Slovakia and Spain to finance more SME energy efficiency projects. The European Investment Fund, part of the EIB Group, is also supporting the initiative through its infrastructure and cleantech venture capital funds, as well as the InvestEU Sustainability Guarantee, which helps drive the sustainable and green transition of European small businesses.
“Energy efficiency is one of the most powerful tools we have to make climate and competitiveness a winning tandem,” said EIB Vice‑President Ambroise Fayolle. “It is not just a technical fix – it is a strategic imperative. We are supporting Europe’s energy efficiency ecosystem for the years ahead.”
EU Commissioner for Energy and Housing, Dan Jørgensen said: “Boosting energy efficiency in SMEs across Europe strengthens competitiveness, supports climate action, and keeps communities thriving. This initiative is a great example of effective cooperation between EU institutions, the EIB Group, and the private sector. Together, we ensure that every watt counts.”
“One of the objectives of the Energy Efficiency for SMEs initiative is to remove one of the biggest barriers to the implementation of efficient solutions: upfront investment and operational complexity”, said Bertrand Piccard, Chairman of the Solar Impulse Foundation. “By promoting energy efficiency as a service that allows shifting the model from ownership to usage, companies no longer have to choose between sustainability and competitiveness. Energy efficient solutions can be installed with no initial cost, managed seamlessly, and paid back through the savings they generate. This approach turns sustainability into a profit, not a burden - and it has the potential to increase competitiveness rapidly across SMEs, cities and entire value chains.”
The announcements were made at a Green Gateway event in Luxembourg organised by the EIB Group. The event brought together more than 200 representatives, including partner banks and other key stakeholders, to discuss the latest developments in green intermediated financing and advisory services.
Green Gateway advisory platform: A key driver of results
The EIB Group’s Green Gateway advisory platform, developed with the support of the European Commission’s InvestEU Advisory Hub, has played a central role in the initiative’s strong first‑year performance. The platform serves as a one‑stop portal for banks and SMEs to identify, assess and report green investments.
A major component is a revamped Group Green Checker, which provides a simple and efficient method for assessing whether investment projects meet EIB Group green eligibility criteria for intermediated financing. Thanks to the introduction of additional measures and green activities, the Green Checker received over 30,000 - a 43% increase in visits last year. Other new features include a dedicated helpdesk to address eligibility questions, an expanded e‑learning programme offering ten modules tailored for intermediaries and SMEs and a new webinar series developed specifically for partner banks.
Energy efficiency as a service
Announcements at the Green Gateway event included two partnerships with Eiffel Investment Group and Solas Capital to set up joint financing platforms focussing on SME energy efficiency projects and to expand available funding. In addition, the investments will also pilot a model which allows businesses to shift from buying physical equipment to purchasing targeted energy saving services, also known as “servitisation”.
Instead of purchasing new, energy efficient equipment, SMEs pay for the warmth or light they use while the service provider owns and maintains the equipment. This removes upfront investment costs and makes it easier for SMEs to adopt energy saving technologies.
This “servitisation” model, also recognised as energy efficiency as a service and actively promoted by the Solar Impulse Foundation, a non-profit organisation, will enable SMEs and other eligible beneficiaries to access cutting-edge green technologies, helping them become more sustainable and competitive. Working alongside the EIB Group, the Foundation engaged with market players to test the relevance and bankability of servitisation-oriented financing models.
The Energy Efficiency for SMEs initiative is a flagship action under the EIB Group’s Strategic Roadmap 2024–2027, reflecting its commitment to sustainable development, competitiveness and economic resilience.