We are honoured to receive the Asset Manager of the Year: Mid-Size award, which acknowledges the Solas Capital team’s work in enabling institutional capital to invest into energy efficiency and distributed renewable energy projects in buildings. This is a critical yet chronically underfunded sector where traditional infrastructure finance has failed to unlock investment at scale. With buildings accounting for 40% of EU energy consumption and 36% of emissions, our work addresses a critical gap in climate finance while at the same time contributing to Europe’s energy security.
As Europe’s largest pure play energy efficiency investment team, this recognition reflects our success in building sustainable partnerships with Energy Services Companies across Europe. Since our Solas Sustainable Energy Fund’s (SEEF) financial close in early 2022, we have executed 17 financing agreements with Energy Services Companies across eight EU countries. SSEF pursues a blended finance project debt strategy which benefits from a credit guarantee under the EU’s Life programme. To date, 3,681 individual projects have been financed, delivering lifetime outcomes of 4,294 GWh energy reduction, 1.2 million tonnes of CO₂ equivalent avoided, €400 million in energy bill savings, and supporting 1,649 green jobs.
Sebastian Carneiro, CEO of Solas Capital AG, remarks: “This award validates our approach to bridging the financing gap between institutional capital and energy efficiency projects. We are grateful for the trust placed in us by leading institutional investors including the European Investment Bank, Ireland Strategic Investment Fund, Munich Re, and HUK-COBURG, who recognise the importance of this asset class in achieving decarbonisation and energy security goals. As we prepare to launch our successor fund in 2026, we remain committed to expanding access to energy efficiency financing and demonstrating that building decarbonisation can deliver both impact and returns.”
We extend our congratulations to all nominees and winners across Environmental Finance’s Impact Awards categories. The collective efforts of organisations working towards decarbonisation and sustainable development are essential to achieving our shared climate objectives and securing a healthier, more secure future for coming generations.
About Solas Capital AG
Solas Capital AG is a specialist investment advisory firm founded and managed by professionals from the energy efficiency financing sector and based out of Zürich, Munich, and Dublin. With Europe’s largest team dedicated to financing energy efficiency in buildings, we exclusively focus on the demand side of the energy system – recognising that energy efficiency is equally important as renewable energy to reach climate goals. Through innovative financing solutions, we bridge the funding gap between energy efficiency project developers and institutional investors.
Our flagship Solas Sustainable Energy Fund ICAV, backed by the European Investment Bank, Munich Re Group, and the LIFE Programme of the European Commission, has already achieved investments projected to avoid 1.2 million tonnes of CO₂ emissions and save over €400 million in energy costs. A successor fund is in development as we continue our mission to support the transition to a carbon-neutral society.
For more information, please visit: www.solas.capital