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Eiffel Energy Transition III launches with €500m raised

Posted on May 6, 2024

Eiffel Investment Group has raised €500m (£428m) for the third vintage of its energy transition infrastructure debt programme and says it is on track to reach its €1bn target.

The Paris-based asset manager said that the fundraise for its Eiffel Energy Transition III fund attracted commitments from around 20 large French and international institutional investors, with nearly 50 per cent of the €500m being reinvestments.

Eiffel’s energy transition infrastructure debt programme launched in 2017 with the support of the European Investment Bank and ADEME, the French agency for ecological transition.

It has invested around €2bn over the past seven years to finance over 3,000 renewable energy and energy efficient assets.

The programme typically invests at the starting stage of infrastructure asset construction. Previous financing deals include a €100m investment into the construction of a solar park in Ireland and the construction of ground-mounted solar assets in Portugal for a major French developer.

Eiffel said that the launch of the third vintage represents “a true scaling-up to meet the growing financing needs of the sector”.

It is expected to deploy €3bn in the coming years to support European’s energy transition. Eiffel said that it has already identified a pipeline of projects worth €1bn.

“Since its inception, the Eiffel Energy Transition program has exceeded its objectives, demonstrating its relevance in supporting the immense financing needs of the energy transition,” said Fabrice Dumonteil (pictured), president of Eiffel Investment Group.

“The success of the program would not be possible without the trust of investors, both public and private, who reaffirm their confidence year after year, and for that, we thank them.

“Today, we are fully committed to amplifying our impact in the development of green energy.”

Pierre-Antoine Machelon, head of infrastructure at Eiffel Investment Group, added: “The development of the infrastructure needed for decarbonizing our economies and preserving our energy security requires increasingly significant investments. This new fund is a tangible contribution from Eiffel and its investors to achieving the goals of the Paris Agreement.”

Eiffel manages around €6bn of assets, half of which is invested in private debt and €2bn of which is committed to energy transition.


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