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European Investment Bank (EIB) will provide over €75 billion (≈$87 billion) in financing for clean energy projects across the European Union over the next three years, according to the European Commission. The funding is part of the EU’s new Clean Energy Investment Strategy, designed to accelerate the transition to a low-carbon economy and attract private investment.

The strategy aims to bridge the gap between available private capital and Europe’s pipeline of energy projects, with an estimated total investment requirement of €660 billion (≈$756 billion) annually through 2030, rising to €695 billion ($796 billion) annually between 2031 and 2040.

Key initiatives under the strategy include supporting electricity grid operators through a new Strategic Infrastructure Investment Fund, enhancing banks’ capacity to lend via securitization, and de-risking innovative clean energy technologies. The plan also emphasizes investment in energy efficiency, modern grid infrastructure, and small modular nuclear reactors (SMRs).

Nadia Calviño, President of the EIB Group, stated that the investment program supports an energy revolution, creating jobs, lowering energy costs, and reducing EU dependence on fossil fuel imports. EU Commissioner for Energy and Housing Dan Jørgensen emphasized that the strategy will help de-risk projects and attract a broader range of investors to support Europe’s energy transition, competitiveness, and decarbonization goals.

The EIB financing is expected to leverage significant private investment and accelerate deployment of sustainable energy infrastructure across the EU.

Source: esgtoday.com