Paris-based asset manager Eiffel Investment Group announced that it has raised €1.2 billion (USD$1.4 billion) for the third vintage of its energy transition infrastructure debt strategy, Eiffel Energy Transition III, closing at the fund’s hard cap and significantly surpassing its initial €1 billion target.
Eiffel’s Energy Transition funds aim to provide short-term, flexible debt to green energy assets, helping bridge the financing gap between limited equity availability and long-term project financing. The third vintage continues this approach by supporting the construction and rollout of renewable energy projects across Europe, attracting more than 30 French and international institutional investors, with nearly half of the capital coming from investors in the strategy’s earlier vintages.
With the new fund’s ability to recycle repaid capital, Eiffel Energy Transition III is expected to deploy up to €3 billion over its eight-year life. Eiffel said the current project pipeline exceeds €1.5 billion, with the fund having already committed just over one-third of its capital.
Pierre-Antoine Machelon, Head of Infrastructure at Eiffel Investment Group, said:
“Our investment capacity is keeping pace with the rapid increase in financing needs in the green energy sector in Europe. It is growing alongside the developers with whom we have established long-standing, trusted relationships. This enables Eiffel today to support larger-scale projects higher-impact projects.”
Launched in 2017, Eiffel’s Energy Transition program has supported more than 100 developers in Europe to date, including backing more than 5,000 green energy production assets across solar, wind, biomass, biogas, hydroelectricity, cogeneration, and energy efficiency, representing carbon-free electricity production capacity of more than 15 GW. Recent financings include photovoltaic portfolios in Ireland and Germany, with backing provided to Power Capital Renewable Energy and Enerparc.
Fabrice Dumonteil, Chairman of Eiffel Investment Group, said:
“This success confirms the relevance of our offering in response to the unprecedented financing needs for green energy infrastructure in Europe. Eiffel is a key partner for renewable energy developers. Through the Eiffel Energy Transition III fund, our major investors are making a decisive contribution to financing European energy sovereignty and competitiveness.”
