Release date: 5 June 2025
Location
Description
A co-investment facility whereby the EIB will co-invest alongside Eiffel Investment Group managed funds to support specific energy efficiency and decarbonisation projects in the EU.
Additionality and Impact
The operation concerns a co-investment envelope with Eiffel Investment Group, active in the Energy Efficiency and Decarbonisation field in Europe and deploying equity/quasi-equity financing. The operation, one of the pilot lighthouse operations of the EIBG Energy Efficiency in SMEs Initiative, targets energy efficiency ("EE") and decarbonisation solutions supporting SMEs and Midcaps.
The underlying investments will be in line with EIB climate action and environmental sustainability (CA&ES) definitions and support the EU's and the Bank's priority objectives in the energy sector (energy efficiency, decarbonisation, security of supply, environmental protection). The energy investments are aligned with the EIB's contribution to the REPower EU programme and are expected to reach a Climate Action share of 100%. The operation will support the EU Competitiveness Compass agenda and the EU Action Plan on Affordable Energy. In addition, the operation supports the Bank's mandate to the EU's regional policy as part of the schemes are expected to be in less developed regions.
The EIB will enable the Manager to commit more resources to support the targeted projects by filling the equity funding gap that may arise for certain projects between the maximum amount that a fund can invest in a single project and the equity required for the same investment. EIB support will therefore have a highly catalytic effect contributing to the development of an underserved market, while also attracting third-party investors. This will significantly speed up project implementation that would otherwise struggle to reach financial close.
The Manager is deemed to be capable of implementing the operation considering its overall experience. The operation is expected to be both financially and economically viable, with a very good economic rate of return ("ERR") and excellent social broader benefit.
Objectives
The project aims to support the financing of energy efficiency and decarbonisation schemes. This will contribute to supporting national and EU energy and climate goals, notably in relation to the decarbonisation of electricity production in the EU, the decrease of reliance on fossil fuels and the security of energy supply.
Sector(s)
- Energy - Electricity, gas, steam and air conditioning supply
Proposed EIB finance (Approximate amount)
EUR 100 million
Total cost (Approximate amount)
EUR 1500 million
Environmental aspects
The co-investment will finance mostly projects of funds in which the EIB is an investor or with whom it has a long standing relationship and which comply with EIB's eligibility criteria, including EIB's environmental and social standards as well as applicable EU environmental directives.
Procurement
The Bank will require the Fund Manager to take all the requisite measures to ensure that contracts for the implementation of the financed project will be tendered in accordance with the relevant applicable EU procurement legislation.
Status
Signed - 18/12/2025