Zurich, 11th of February 2026 – Today in Luxembourg, Solas Capital AG has signed a €60 million commitment from the European Investment Bank (EIB) for its successor fund, Solas Sustainable Energy Fund II. The commitment scales the existing energy efficiency financing partnership between EIB and Solas Capital and will channel much needed institutional infrastructure capital towards energy-as-a-service projects delivered by energy service companies (ESCOs) across several EU countries.
Details of the partnership
- The European Investment Bank commits €60 million to Solas Sustainable Energy Fund II (SSEF II), following its €30 million investment in the first fund (SSEF) in 2022
- SSEF II will provide project finance funding to energy service companies that deliver building and industrial decarbonisation energy infrastructure projects across Europe
- The project debt strategy will be structured to include a public guarantee, providing credit protection for institutional investors
Quotes from the partners
Sebastian Carneiro, CEO & Co-Founder, Solas Capital: “We are pleased to deepen our partnership with the EIB, demonstrating how building decarbonisation infrastructure is a crucial pillar of the energy transition. Thanks to the €60 million commitment from the EIB to SSEF II, we can unlock much needed infrastructure investments for energy efficiency projects—especially for SMEs—and build upon the strong relationships established by the predecessor fund, all the while contributing to European competitiveness and energy security.”
Ambroise Fayolle, EIB Vice-President: “We are helping deliver real impact through energy efficiency as a service. The result will be lower energy bills for companies and a stronger European economy.”
Paul Kearney, Partner & Co-Founder, Solas Capital: “Structuring energy efficiency infrastructure investments requires deep sectoral expertise and trusted partnerships. Our long-term relationships with established project developers reflect years of learning how to transform energy service contracts into investable infrastructure assets. SSEF II builds on this proven model, and the EIB’s co-financing will enable us to channel even more institutional capital toward Europe’s building and industrial decarbonisation challenge.”
Read the full press release below.