Zurich, Amsterdam, 27th of June 2025
The Solas Sustainable Energy Fund, an ICAV advised by Solas Capital AG has entered into a Framework Agreement with Signify Holding BV (Signify), formerly Philips Lighting, the world leader in lighting.
This agreement enables Signify to offer energy-efficient LED and connected lighting projects with zero upfront costs to private and public sector customers across Europe through its Light as a Service (LaaS) model, thus removing financial barriers to LED adoption, and setting new benchmarks for innovation in the energy efficiency market.
The projects planned under this Framework are expected to reduce energy consumption for lighting while contributing to significant CO2 emissions reduction and substantial cost savings for clients. By targeting building energy consumption, which represents 40% of Europe’s total energy use, this partnership addresses decarbonisation at its source through comprehensive LED lighting retrofit projects.
Jeevan Shinde, Corporate Finance Manager & Head of Capital at Signify: “Our partnership with Solas Capital enhances our ability to offer energy-efficient lighting solutions in a structured finance model. This will provide our strategic customers with the flexibility and support necessary for adopting our advanced connected lighting products, systems and services.”
Gary Throup, Head of Treasury at Signify: “Partnering with Solas Capital enables us to remove upfront cost barriers for our customers and accelerates the adoption of more energy-efficient lighting solutions. This aligns with Signify’s commitment to deliver long-term value by unlocking the potential of energy efficiency, thereby reducing both electricity costs for customers while contributing to their own sustainability goals.”
Slawomir Huss, Partner and Investment Director at Solas Capital,: “Partnering with Signify, the world leader in lighting, validates our expertise in structuring effective financing mechanisms for energy efficiency projects. Their technological excellence and established market presence will allow us to deliver impactful energy savings across multiple European markets.”
Sebastian Carneiro, CEO and Co-founder of Solas Capital said: “Our partnership with Signify, a listed company, further strengthens and diversifies our portfolio, providing investors with stable returns while tackling building energy consumption at its source. This approach improves European energy security and demonstrates that energy efficiency is as crucial as renewable energy in achieving climate goals.”
Find the full press release below.
Press Contact: media@solas.capital