Backed by the InvestEU programme, the European Investment Fund’s commitment represents a sizeable part of the White Summit Capital Decarbonisation Infrastructure Fund’s II (WDIF II) €500m target size.
Climate finance remains a crucial part of getting closer to the EU’s objectives which include the energy transition and mitigating and adapting to climate change. As such, the latest commitment of the EIF represents another step in the right direction.
“By leveraging the expertise and financial strength of the EIF and with the support of the InvestEU programme, alongside White Summit Capital we aspire to mobilise additional capital, expedite decarbonization efforts, and contribute to building a sustainable future.”
Marjut Falkstedt, EIF Chief Executive.
The InvestEU programme, which aims to mobilise over €372bn in additional investments for EU policy priorities by the end of 2027 played an important part in funding this project. Hoping to reach its €500m target, the WDIF II will support infrastructure companies to scale up their asset base.
“We are delighted to partner with the EIF as we share many of the same objectives, including the belief that supporting smaller infrastructure companies operating in more complex energy sub-sectors is one of the keys to energy transition,” Pablo Pallas, Managing Partner, White Summit Capital.
The Fund will invest in approximately 10 companies in three key areas: (1) Renewables Integration, (2) Sustainable Transportation and (3) Decarbonisation of Industries. Together with the White Summit Capitals team’s expertise, the companies will be guided in their decarbonisation efforts.
White Summit Capital expects WDIF II to reach a first close by the first quarter of 2024.
