London, Luxembourg, Milan - 17 December 2024 - EOS Investment Management Group (EOS IM), an independent asset manager specialising in alternative investment funds focused on the energy and sustainable transition, is pleased to announce the final closing of its flagship energy infrastructure fund, EOS Energy Fund II S.C.A. SICAV-RAIF ("EOS ReNewable Infrastructure Fund II" or the “Fund"), with a total allocation of €293.4 million, exceeding its funding target of €250 million. This significant result confirms the confidence of institutional and private investors in the EOS IM Group's ability to generate value through investments that actively contribute to the energy and sustainable transition.
EOS ReNewable Infrastructure Fund II represents one of the most significant initiatives in the Italian and European panorama of infrastructure funds entirely dedicated to new-generation renewable energies. The Fund has attracted a diversified base of subscribers, including leading pension funds, insurance groups and funds of funds: institutional and private players who share the same need to generate financial value while promoting positive environmental and social impacts for the community.
A fund entirely focused on green energy generation
EOS ReNewable Infrastructure Fund II is exclusively focused on investments in plants and technologies for the production and storage of renewable energy, with a greenfield vocation, with particular attention to business models that contribute to the enhancement of the local productive and social context, increasing its attractiveness while fully respecting the preservation of ecosystems. The Fund's investments, in addition to providing photovoltaic capacity in the absence of public incentives, aim to offer the possibility of valorising local expertise, both in the construction phase and in the subsequent management and operation phase: thanks to the predominant use of local labour and companies, the Fund pursues the ultimate goal of accelerating the transition towards a more sustainable energy system, not only from an environmental but also from a socio-economic point of view.
The Fund can already count on:
- Investment portfolio: with around 60% of the Fund's capital already invested, rising to 80% considering the additional capital already allocated and not yet invested, the Fund has a portfolio of 630 MW, capable of serving the equivalent annual consumption of around 420,000 households in Italy and Spain and avoiding over 510,000 tonnes of CO2 equivalent emissions annually,
- Further opportunities: the Fund has already identified further strategic opportunities that it intends to pursue in the coming months in order to complete the investment programme and ultimately reach the target of more than 1GW of renewable capacity enabled by the Fund.
"With the final closing of EOS ReNewable Infrastructure Fund II, we have fully realised the vision we set ourselves when we launched the Fund," said Natalino Mongillo, Managing Partner and Co-Founder of EOS IM Group. "This raise not only testifies to the soundness of our strategy, but represents a concrete contribution to the energy transition in Europe. The success of EOS Energy Fund II and the trust placed in it by our investors encourages us to look forward to the future with enthusiasm and to consider, soon, new investment initiatives in a sector in which we have always been committed and in which we are increasingly becoming a key player."