Eiffel Investment Group announces a €20 million debt financing agreement with Envolve Capital (formerly Modus Asset Management), one of the leading investment fund management companies specializing 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 seventeen 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 Q3 2024 the first three Fund’s projects started generating green electricity with gradual energization 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 decarbonization of the energy mix in Europe including Central and Eastern countries.”
Povilas Pečiulis, CEO of Envolve Capital, concludes: “We are delighted to partner with Eiffel Investment Group. With their support, we can expedite the realization 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.”
Eiffel Investment Group is an asset manager with c. €7 billion under management (as of 31/12/2024). Eiffel Investment Group’s investor base consists of large institutional investors (insurance companies, mutual insurers, pension funds, banks, family offices, public investors, etc.) as well as retail investors. Eiffel Investment Group cultivates a strong industrial expertise, in particular in the field of the energy transition. Eiffel finances companies and their assets through four main strategies: private debt, private equity, energy transition (infrastructure debt and equity, private equity), and listed credit and equities. Eiffel Investment Group’s investment strategies aim to generate not only a strong financial performance but also positive social and environmental impacts.
Eiffel Investment Group’s team counts around 110 professionals, with offices in Paris, Amsterdam, Milan, Warsaw, New York and Abu Dhabi.
Eiffel Energy Transition III is a specialized professional fund classified as Article 9 under SFDR regulations, reserved for institutional investors.
Clean Energy Infrastructure Fund is the fourth renewable energy investment fund for informed investors launched in 2023 by Envolve Capital. The Fund invests in the Baltic States, Poland, and other Central European countries, has the highest sustainability rating of SFDR Article 9 (Dark Green) financial products, and is focused on long-term investments. The Fund focuses on solar PV, onshore wind and co-located battery storage systems. The Fund has a target size of EUR 200 million and a hard cap of EUR 350 million. The total installed capacity of the Fund’s portfolio is expected to reach 600 MW.
