Bank Gospodarstwa Krajowego (BGK) has invested €25m (£21.1m) in the Eiffel Transition Infrastructure Fund, a French-managed fund that finances renewable energy infrastructure projects within the European Union.
BGK’s investment in the fund will be directed towards funding the development and construction of renewable energy projects in Poland.
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The Eiffel Transition Infrastructure Fund specialises in supporting energy projects at development stage, and one of its main investors is the European Investment Fund.
As part of its new BGK2030 strategy, BGK intends to develop the market of funds investing in infrastructure in Poland and Central Europe, while its involvement in the Eiffel fund also aligns with the aims of Polish French intergovernmental Treaty, which concluded on 9 May.
Asset manager Eiffel Investment Group, which has approximately €7bn under management, finances companies and their assets through four main strategies: private debt, private equity, energy transition, and listed credit and equities.
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According to BGK, the experience of Eiffel’s management team will help to mitigate the risks typically associated with this type of investment and enable Polish projects to benefit from the lessons learned by other markets.
“As a development bank, BGK’s role is to help close the investment gap in the market – a priority reflected in our BGK2030 strategy. That’s why we are increasing our investment in Poland’s energy transition,” said Jarosław Dąbrowski, member of the BGK management board.
“BGK’s involvement in the Eiffel Transition Infrastructure fund, which brings so-called ‘smart money’ to the Polish market, will not only contribute to additional megawatts of renewable energy, but also help strengthen local know-how in infrastructure fund management.”
“We were amongst the first European managers investing in the Polish renewable energy sector, and with BGK’s support, we will further ramp up new green energy capacity in the country,” said Fabrice Dumonteil, chief executive of Eiffel Investment Group.
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