The European Investment Bank (EIB) is ramping up support for energy efficiency across Europe with a €60 million commitment to a new financing platform managed by energy transition investment advisor Solas Capital. The investment will flow into Solas Sustainable Energy Fund II (SSEF II) to advance energy efficiency projects by small and medium‑sized enterprises (SMEs), which are central to the European economy. The platform aims to expand the EU’s energy-efficiency services market, helping SMEs reduce energy costs, lower carbon emissions, and become more competitive. Co-financing from private investors is expected to mobilize nearly €400 million for technologies including LED lighting, insulation, heat pumps, rooftop solar, and EV charging stations across multiple EU countries.
EIB Vice-President Ambroise Fayolle highlighted that the initiative delivers measurable energy savings and strengthens the European economy, while Solas Capital CEO Sebastian Carneiro emphasized that the co-investment will unlock critical infrastructure investments, particularly for SMEs, supporting European competitiveness and energy security. The platform builds on the €30 million EIB commitment in 2022 to Solas Sustainable Energy Fund, which successfully deployed energy efficiency financing under the energy-as-a-service model, allowing firms to purchase targeted energy-saving services rather than physical equipment.
The platform was officially launched at a signing ceremony in Luxembourg, attended by partner banks and stakeholders to discuss green intermediated financing and advisory products offered by the EIB Group, including the European Investment Fund (EIF). This project is part of the broader EIB Group Energy Efficiency for SMEs initiative, which seeks to support SMEs in deploying proven energy-saving technologies to cut energy costs and enhance competitiveness. Over the next three years, the initiative aims to provide €17.5 billion in financing to up to 350,000 SMEs, building on the €6 billion disbursed in 2025 that enabled 150,000 SMEs to invest in energy efficiency and decarbonisation projects.
Solas Capital, based in Zurich with offices in Munich and Dublin, specializes in building and industrial decarbonisation infrastructure. The firm provides tailored project finance solutions to energy service companies, offering asset-backed private credit strategies that deliver fixed-income-type returns to investors while achieving measurable climate impact and advancing energy security. SSEF II is supported by institutional partners including the Munich Re Group, the European Investment Bank, and the European Commission’s LIFE Programme.
This partnership strengthens Europe’s energy transition by enabling SMEs to access cutting-edge energy-saving technologies, advancing the energy-as-a-service model, and supporting broader EU goals for a low-carbon economy.
