Eiffel Investment Group has announced a €20 million debt financing agreement with Envolve Capital (formerly Modus Asset Management), one of the leading investment fund management companies specialising in energy transition in the Baltics and Central Europe. This investment aims to support the construction and commissioning of a 177 MW portfolio of solar and wind projects across Lithuania, Latvia, and Poland.
The portfolio comprises 17 consolidated projects controlled by Clean Energy Infrastructure Fund, a closed-end investment fund for informed investors managed by Envolve Capital. It includes 160 MW of solar energy and 17 MW of onshore wind energy. In 3Q24, the fund’s first three projects started generating green electricity, with gradual energisation ongoing throughout 2025 and full completion expected by the end 2026.
This initiative aligns with the objectives of the Eiffel Energy Transition III fund, which supports the growth of renewable energy infrastructure and the increasing demand for energy transition financing. By intervening at critical phases, particularly at the onset of construction, Eiffel Investment Group facilitates the expedited development of these projects.
Pierre-Antoine Machelon, Head of Infrastructure at Eiffel Investment Group, said: “We are proud to support Envolve Capital in building its renewable energy project portfolio. This financing underscores our commitment to accelerating the deployment of essential energy transition infrastructure and contributing to the decarbonisation of the energy mix in Europe including Central and Eastern countries.”
Povilas Peciulis, CEO of Envolve Capital, concluded: “We are delighted to partner with Eiffel Investment Group. With their support, we can expedite the realisation of our projects and play a pivotal role in the regional energy transition. This collaboration reflects the robustness of our vision and the growing appeal of investments in renewable energy in our region.”
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