Solas Capital, a leader in energy efficiency financing, has established a strategic partnership with HUK-COBURG Asset Management GmbH through a new segregated management account. This collaboration will enable the expansion of sustainable energy projects across Europe, strengthening Solas Capital’s position in the growing market for funding energy-saving initiatives.
HUK-COBURG Partnership Strengthens Solas Capital’s Energy Efficiency Financing Capabilities
The newly established segregated management account from HUK-COBURG Asset Management GmbH, the asset management company of one of Germany’s ten largest insurance groups, enables Solas Capital to pursue a wider range of energy efficiency debt opportunities beyond its existing fund strategy. This partnership with HUK-COBURG reflects growing institutional recognition of energy efficiency infrastructure as an asset class that delivers both environmental impact and attractive risk-adjusted returns.
“We are delighted to partner with HUK-COBURG and support them in achieving their sustainable investment targets,” said Sebastian Carneiro, Co-Founder and CEO of Solas Capital. “HUK-COBURG is known for their thorough due diligence and forward-thinking approach to sustainable investments. This mandate enables us to finance projects that not only reduce emissions but also strengthen Europe’s energy security by decreasing dependence on external energy sources.”
This new mandate enables us to pursue a wider range of energy efficiency debt opportunities beyond our existing fund strategy, with a first transaction of €13m already closed and a pipeline of more than €30m identified.
Energy Efficiency Financing Critical for Europe’s Climate Goals
As buildings account for 40% of energy consumption in Europe, investing in energy efficiency is equally important as renewable energy to reach climate goals. This partnership reinforces both companies’ commitment to sustainable finance and decarbonization.
Solas Capital’s existing Solas Sustainable Energy Fund (SSEF) has already demonstrated impressive environmental and economic impact, with investments projected to avoid 930,000 tonnes of CO₂ emissions and more than €360 million in energy costs already saved. The new SMA complements this fund, providing greater flexibility to pursue larger-scale projects and partnerships with different risk profiles.
“This partnership with Solas Capital aligns perfectly with our sustainable investment strategy,” said Maximilian Cosack, Head of Private Assets at HUK-COBURG Asset Management GmbH. “Energy efficiency investments offer attractive risk-adjusted returns while making a measurable contribution to decarbonisation goals. Solas Capital’s specialised expertise in this sector makes them an ideal partner for deploying capital in this growing market.”
About Solas Capital
Solas Capital is a specialist investment advisory firm founded and managed by professionals from the energy efficiency financing sector and based out of Zürich, Munich, and Dublin. Through the development of innovative financing solutions, Solas Capital’s mission is to support the move to a carbon-neutral society. By understanding both the funding needs of energy efficiency project developers and the requirements of institutional investors, Solas Capital bridges the funding gap between investors and projects. Solas Capital is the investment advisor to the Solas Sustainable Energy Fund ICAV, which is supported by the Munich Re Group, the European Investment Bank, and the LIFE Programme of the European Commission.
For further information about this partnership, contact media@solas.capital.