EU funding

EIB-coordinated report shows climate finance reached record levels in 2024, with private co-finance rising 33% to $134bn. But officials warn of a funding gap as attention turns to COP30 targets.

Vireo Ventures’ electrification fund secured the backing of a wide range of private, corporate and institutional investors across the European energy system.

The Oslo-based investor has already invested from its second fund in three firms providing technology and services to the sustainable fish farming industry.

The DEG loan to the CRBD bank will use a guarantee from the European Fund for Sustainable Development Plus, and will support small businesses including those owned by women and young adults.

The financing supports the construction of four solar parks with a total capacity of 329 megawatts by renewable energy developer Sunly.

Driven by artificial intelligence, STIQ’s virtual kitchen technology platform helps reduce waste in the food services business.

Renalfa IPP has closed a financing deal from investors to build out renewable energy capacity across Bulgaria, Hungary, Romania, and North Macedonia.

Renowned for its record-breaking waves which attract surfers from all over the world, Portugal’s coastline may produce as much as 15 gigawatts of wave energy.  

The commitment by the European Investment Fund is backed by the InvestEU programme, which aims to unlock €327bn in green investments by 2027.  

The Dutch venture capital fund, which focuses on climate change, biodiversity loss and natural resource depletion, is backed by a range of institutional and European investors.