BAKU, Azerbaijan, Feb.12. The European Investment Bank (EIB) has committed 60 million euros to launch a new financing platform managed by energy transition investment adviser Solas Capital to accelerate energy efficiency investments by small and medium-sized enterprises (SMEs) across Europe, the bank said, Trend reports.
The EIB investment will be made through Solas Capital’s successor fund, the Solas Sustainable Energy Fund II (SSEF II), and is aimed at helping SMEs cut energy costs and reduce carbon emissions. SMEs account for the vast majority of businesses in the European Union and play a central role in economic growth and employment.
The co-financing platform is expected to mobilise close to 400 million euros, including private-sector capital, to support the deployment of technologies such as LED lighting, insulation, heat pumps, rooftop solar systems and electric vehicle charging infrastructure in several EU countries.
The initiative builds on a previous 30 million euro EIB commitment in 2022 to the Solas Sustainable Energy Fund (SSEF), a 220 million euro energy efficiency debt fund advised by Solas Capital. The partnership will continue to expand so-called “energy as a service” financing, under which companies shift from purchasing equipment outright to buying fixed energy services.
This model allows SMEs and other eligible beneficiaries to access proven, advanced technologies that deliver immediate and measurable energy savings, while offering investors asset-backed and contracted cash flows, the EIB said.
The new platform was inaugurated at a signing ceremony in Luxembourg attended by partner banks and other stakeholders. The event focused on green intermediated financing and advisory products offered by the EIB Group, which includes the European Investment Fund (EIF).
The EIB Group, owned by the European Union’s 27 member states, is one of the world’s largest multilateral development banks. In 2025, it signed 100 billion euros in new financing and advisory services for more than 870 projects aligned with EU policy priorities, including climate action, digitalisation, security and defence, territorial cohesion, agriculture, social infrastructure and global partnerships.