Norwegian clean-energy fund gets €40 million EIF backing to spur green advances across Europe

• EIF pledges €40 million to fund being set up by Norway-based HAVN Capital to expand clean energy in Europe
• HAVN Capital II to invest exclusively in companies driving transition to low-carbon economy
• Focus to be on renewable energy, electrification and energy efficiency

EIF has committed €40 million to HAVN Capital II, a private equity fund to be launched by Norway-based HAVN Capital. This fund will focus on the European lower mid-market, aiming to accelerate the transition to a low-carbon economy by investing in companies driving renewable energy, electrification, and energy efficiency.

The new fund is targeting a total size of €250 million and will focus exclusively on sustainable-energy advances. It plans to invest in 8 to 10 growth-stage service companies across Northern and Western Europe.

The support for HAVN Capital II from the EIF, which is part of the European Investment Bank (EIB) Group, is designed to encourage broader institutional backing for the new fund and help the European Union achieve its goal of becoming climate neutral by 2050.

"By supporting HAVN Capital II, we reaffirm our commitment to Europe’s green transition," said EIB Group Vice-President Thomas Östros. “This investment will enable the next generation of European service companies to innovate and lead in sustainable energy while attracting further investment in climate-focused sectors. Through partnerships like this, we are driving real progress toward Europe’s climate goals."

The HAVN team has decades of experience in energy ventures. Its investments typically range from €15 million to €40 million.

“We are honoured by the EIF's commitment to HAVN Capital II," said HAVN Capital Managing Partner Tomas Hvamb. "This partnership enables us to support European companies that are at the forefront of the low-carbon transition, driving innovation in renewable energy, electrification and energy efficiency. Together, we aim to make a meaningful impact on Europe's sustainable-energy landscape.”

The EIF commitment to HAVN Capital II promises both economic and environmental benefits, aligning with the EIB Group’s climate-action and environmental-sustainability targets in its “Climate Bank Roadmap”.

Background information

EIF

The EIF is part of the European Investment Bank (EIB) Group. It supports Europe’s SMEs by improving their access to finance through a wide range of selected financial intermediaries. The EIF designs, promotes and implements equity and debt financing instruments targeting SMEs. In this role, the EIF fosters EU objectives in support of entrepreneurship, growth, innovation, research and development, the green and digital transitions and employment.

HAVN Capital

HAVN Capital is a thematic buyout investor specialising in the lower-middle market. The firm partners with innovative companies to drive decarbonisation across Europe. HAVN Capital offers strategic support to scale sustainable solutions within its core themes of renewable energy, electrification, and energy efficiency. Its mission is to foster sustainable, profitable growth, delivering industry-leading returns for investors whilst yielding significant environmental impact.

Press contacts:

EIB Group: Thomas Eriksson | t.eriksson@ext.eib.org