Eiffel Investment Group has raised its third vintage energy transition infrastructure debt fund, Eiffel Energy Transition III, closing at its hard cap of €1.2 billion after exceeding an initial €1 billion target. The fund brings together more than 30 French and international institutional investors and is positioned as a financing tool supporting European energy sovereignty and competitiveness.
Eiffel said nearly half of the capital raised came from reinvestments by investors already involved in the first two Eiffel Energy Transition vintages, pointing to continued support for the strategy and what the firm described as strong results from the broader program.
The fund focuses on financing energy transition assets and provides flexible short-term debt to green energy projects, including during construction. Eiffel framed the strategy as addressing a widening mismatch between the scale of capital needed for the energy transition and the availability of suitable financing, particularly in the gap between expensive equity and long-term project finance, which can be slow and complex to arrange.
With a recycling feature that allows reinvestment of amounts repaid by earlier financed assets, Eiffel Energy Transition III is expected to invest around €3 billion over its eight-year lifespan. Eiffel added that it already has a pipeline of projects worth more than €1.5 billion and that its teams analyzed more than €7 billion of investment opportunities across 2024 and 2025. At the time of the announcement, the fund had already committed just over a third of the capital raised, and Eiffel said more than half of the new financings involve developers and producers previously supported by earlier vintages, reflecting ongoing relationships.
Eiffel’s broader energy transition track record dates to its creation in 2008, and the firm said it has financed more than 5,000 energy transition assets across Europe to date. Those assets represent more than 15 gigawatts of low-carbon production capacity, which Eiffel equated to nearly 10 million households supplied with green electricity. The firm said that, through successive Eiffel Energy Transition funds, it has supported more than 100 developers across Europe and financed assets spanning solar, wind, biomass, biogas, hydroelectricity, cogeneration, and energy efficiency.
Eiffel pointed to recent activity, including support for Power Capital Renewable Energy in Ireland through refinancing part of existing debt and financing construction across the remainder of its pipeline, and support in Germany for Enerparc for the construction of two photovoltaic projects totaling 150 megawatts.
To support a larger program footprint, Eiffel said it significantly strengthened its energy transition infrastructure team in 2025. The team now includes more than 30 professionals and recently added four senior investors, which Eiffel said enhances its ability to manage deployment pace and conduct demanding monitoring of portfolio assets across Europe.
KEY QUOTES:
“This success confirms the relevance of our offering in response to the unprecedented financing needs for green energy infrastructure in Europe. Eiffel is a key partner for renewable energy developers. Through the Eiffel Energy Transition III fund, our major investors are making a decisive contribution to financing European energy sovereignty and competitiveness.”
Fabrice Dumonteil, Chairman of Eiffel Investment Group
“Our investment capacity is keeping pace with the rapid increase in financing needs in the green energy sector in Europe. It is growing alongside the developers with whom we have established long-standing, trusted relationships. This enables Eiffel today to support larger-scale projects higher-impact projects. We are delighted about this!”
Pierre-Antoine Machelon, Head of Infrastructure at Eiffel Investment Group
“Our investment team brings together exceptionally broad expertise built over many years, allowing us to finance projects across Europe with the highest level of selectivity.”
Jean-Charles Arrago, manager of this fund
