Eiffel Investment Group launches Eiffel Energy Transition III, an infrastructure debt fund to accelerate the energy transition

Billions for the environment: Eiffel Energy Transition III launches to accelerate the decarbonization of power generation. The new fund supports the construction of green energy plants in Europe

Paris, May 2, 2024 - Eiffel Investment Group announces the launch of the 3rd vintage of the Eiffel Energy Transition infrastructure debt program. With an initial close of €500 million gathering international institutional investors, the Eiffel Energy Transition III fund is on track to reach its target of raising €1 billion in capital. This is in line with the rapidly accelerating financing needs of the European energy transition.

The Eiffel Energy Transition program was launched in 2017 with the support of the European Investment Bank and ADEME as part of the Future Investment Program (Programme d'Investissement d'Avenir - PIA3) and is now integrated into France 2030. It aims to finance the construction of green energy production plants and energy efficiency installations. The Eiffel Energy Transition program has invested around two billion euros over the last seven years to finance over 3,000 renewable energy and energy efficiency installations, representing over 7 GW of decarbonized electricity generation capacity.

Since its inception, the Eiffel Energy Transition Program has exceeded its targets, demonstrating its relevance in supporting the enormous financing needs of the energy transition.

Fabrice Dumonteil, President of the Eiffel Investment Group

Thanks to this investment program, over 5 million tons of CO2 are avoided annually and the equivalent of over 5 million homes are supplied with green electricity. The program's investments have indirectly led to the creation of nearly 1,500 permanent jobs and 9,000 temporary jobs.

Eiffel's intervention typically occurs during the critical early stages of infrastructure construction when long-term financing is not yet available. The Eiffel Energy Transition program thus accelerates the decarbonization of power generation.

This new fund is a tangible contribution by Eiffel and its investors to achieving the goals of the Paris Agreement.

Pierre-Antoine Machelon, Head of Infrastructure at Eiffel Investment Group

For example, the program has provided 100 million euros to finance the construction of a 750 MW solar park in Ireland. The program also supports French developers internationally, enabling them to accelerate their growth. It recently financed the construction of ground-mounted solar plants in Portugal for a major French developer.

Massive impact on the decarbonization of power generation in Europe

Since its inception, the Eiffel Energy Transition program has generated significant interest among European developers who see it as an opportunity to significantly accelerate the construction and operation of their facilities. The first two cohorts of the Eiffel Energy Transition program have thus supported the delivery of assets from over 70 developers in Europe and around the world.

While this new vintage continues the line of the two previous funds, its launch represents a true expansion to meet the growing financing needs of the sector. With a target volume of €1 billion, Eiffel Energy Transition III aims to deploy a total investment volume of €3 billion over the coming years to support the European energy transition. With a project pipeline of over €1 billion already identified, this third year aims to support both Eiffel's historic partners and new players, mainly in Europe and OECD countries.

Committed investors

For this third generation, around twenty major French and international institutional investors have already participated in the fund, demonstrating their commitment to accelerating the energy transition. Their commitments amount to nearly 500 million euros, with almost 50% being reinvestments, reflecting their desire to support the program over the long term.

Led by Pierre-Antoine Machelon, co-founder and head of Eiffel's energy transition infrastructure franchise, the fund management team now comprises over twenty investment and energy industry experts. It has been strengthened over the past three years, notably with the addition of Jean-Charles Arrago, who brings twenty years of experience in renewable energy investment and co-manages the program with Pierre-Antoine Machelon.

Financing the energy transition, driver of Eiffel's growth

At the beginning of 2021, Eiffel announced that it would have €5 billion in assets under management by the end of 2023. Three years later, Eiffel has exceeded its targets, with over €6 billion in assets under management (including uncalled commitments). Energy transition strategies have been at the core of Eiffel's expertise since its inception and amount to over €2 billion. This result reflects the confidence of Eiffel's main investors, who increasingly rely on the Group's expertise to achieve their impact objectives, particularly when investing in the energy transition.

Eiffel's continued growth will be based on the trust of its existing customers and its efforts in internationalization. Over the past three years, Eiffel has established presences in New York, Abu Dhabi, Poland and, most recently, Italy. This international presence enables the Group to support energy transition players in their internationalization efforts and to expand the Group's institutional client base.

About Eiffel Investment Group

Eiffel Investment Group is an asset manager with €6 billion in assets (as of December 31, 2023, including uncalled commitments). Its clients include large institutional investors such as insurance companies, investment funds, pension funds, banks, large family offices, public investors, etc., as well as individual savers through distribution networks. Backed by entrepreneur Jacques Veyrat's Impala Group, Eiffel Investment Group has a strong industrial expertise, particularly in the energy transition. The Group finances companies and their assets through four main strategies: private debt, private equity, energy transition infrastructure and listed equities and bonds. Eiffel's investment strategies aim to deliver not only strong financial performance, but also a positive environmental and social impact. The Eiffel Investment Group team consists of approximately 100 talented professionals based in France (Paris), the Benelux region (Amsterdam), the United States (New York), Poland (Warsaw), Italy (Milan) and the United Arab Emirates (Abu Dhabi). Eiffel Energy Transition, Eiffel Energy Transition II and Eiffel Energy Transition III are specialized professional funds classified as Article 9 under the SFDR regulations and reserved for institutional investors.