EIF-Backed ZEST II Secures €255 Million to Drive Sustainable Energy Projects Across Europe

EIF-Backed ZEST II Secures €255 Million to Drive Sustainable Energy Projects Across Europe

(IN BRIEF) The Zencap European Sustainable Transition II (ZEST II) fund has successfully closed at €255 million, surpassing its target with a €75 million investment from the European Investment Fund (EIF) under InvestEU. This funding enables ZEST II to back renewable energy and infrastructure projects across Europe, supporting EU climate goals through investments in wind, solar, biogas, and energy storage.

(PRESS RELEASE) LUXEMBOURG, 5-Nov-2024 — /EuropaWire/ — The Zencap European Sustainable Transition II (ZEST II) fund has closed at €255 million, exceeding its initial target of €250 million, with a substantial €75 million commitment from the European Investment Fund (EIF) through InvestEU. This funding will empower ZEST II to support a wide range of renewable energy and sustainable infrastructure projects that align with the European Union’s climate and Green Deal objectives.

Targeting medium-sized renewable energy initiatives, ZEST II will focus on wind, solar, biogas, and energy storage projects, helping to advance Europe’s green transition. EIF Chief Executive Marjut Falkstedt highlighted the fund’s role in mobilizing private investments for sustainable development, emphasizing the importance of such projects in achieving EU climate targets. Zencap representatives, Victoire Blazsin and Guillaume Boucher, expressed their commitment to advancing Europe’s energy transition by delivering sustainable projects that reduce carbon emissions.

Background information

The European Investment Fund (EIF) is part of the European Investment Bank Group. Its central mission is to support Europe’s micro, small and medium-sized enterprises (SMEs) by helping them to access finance. The EIF designs and develops venture and growth capital, guarantees and microfinance instruments which specifically target this market segment. In this role, the EIF fosters EU objectives in support of innovation, research and development, entrepreneurship, growth and employment. EIF celebrates this year three decades at the service of SMEs.

Zencap Asset Management, a subsidiary of Ofi Invest, the asset management arm of Aéma Groupe, is an asset management company specializing in unlisted debt and committed to responsible investment. Since 2009, Zencap AM has been active in a wide variety of financing solutions for real estate assets, infrastructure and small and mid-cap companies. On December 31, 2023, Zencap AM had almost €4 billion in assets under management and advisory mandates.

Media Contacts:

EIF:
Serena Sertore, s.sertore@eib.org, tel.: +352 4379 70859

Website: www.eif.org — Media Office +352 4379 21000; press@eib.org

Zencap AM :
Richard Jacquet, rjacquet@zencap-am.fr , tel. : +33（0) 1 56 68 54 25

Guitel Cohen-Cebula (GROUPE OFI INVEST), guitel.cohen-cebula@ofi-invest.com,
+33 (0) 6 26 56 75 36

Cyrille Lachevre (VERBATEE), c.lachevre@verbatee.com, +33 (0) 6 20 42 12 08

SOURCE: European Investment Fund