The Solas Sustainable Energy Fund ICAV (SSEF), an EU-focused fund targeting energy efficiency investments managed by Solas Capital AG, has secured a significant institutional investor in MEAG, the asset manager of Munich Re and ERGO.
MEAG will contribute a substantial amount to the SSEF on behalf of the Munich Re Group and other institutional investors. The funds will be used to implement energy-saving measures in the building sector.
Solas Capital is working with a wide range of energy service companies, project developers, equipment manufacturers and public institutions in the EU to help them access tailored financing and to enable energy efficiency investment.
Solas Capital has structured a bond purchase programme for MEAG’s participation in the SSEF. This ensures a regular flow of payments, which is important for insurance companies and similarly structured investors, as they place a high priority on predictable repayments from their capital investments.
Other anchor investors include the Ireland Strategic Investment Fund (ISIF) and the European Investment Bank (EIB).
