InvestEU backs €150 million commitment by European Investment Fund for a decarbonisation infrastructure fund
The European Investment Fund (EIF) has signed a €150 million cornerstone commitment to the White Summit Capital Decarbonisation Infrastructure Fund II (WDIF II). The EIF’s commitment is backed by the InvestEU programme. The WDIFII Fund, which has a target size of €500 million, aims to support projects that boost the transition to clean energy, address the consequences of climate change and ensure security of energy supply, among others. This Fund will help address the funding gap in the energy transition middle market by supporting infrastructure companies across Europe – for instance in the area of energy, but also circular economy and sustainable transport – to scale up their asset base and support their development.
Commissioner for Economy, Paolo Gentiloni, said: “I am glad that together with the EIF, under InvestEU, we are supporting this fund giving the financial boost that businesses need to contribute to our decarbonisation efforts. It will not only help infrastructure companies to make the necessary investments in renewable energy and energy security, but also bring clear returns in terms of high-quality jobs and sustainable growth for Europe.”
The InvestEU programme provides the EU with long-term funding by leveraging private and public funds in support of EU policy priorities. As part of the programme, the InvestEU Fund is implemented through financial partners who will invest in projects using the EU budget guarantee and thus mobilising at least €372 billion in additional investment.