ETIC Partners has reached a €70m first close for its second fund, Energy Transition Europe II, targeting renewable energy projects across Southern and Central & Eastern Europe.
ETIC said the Article 9 fund is seeking €150m, with a €250m hard cap, and began investing in January 2025 with a first deal in a 203MWp solar portfolio in France.
It added that €35m, equal to half of initial commitments, has already been deployed in France, Italy, Romania and Hungary into assets totalling over 330MW of capacity.
According to ETIC, the strategy mirrors its first vintage by providing junior debt for new-build projects and refinancing, with ticket sizes of €5m to €25m for PV, onshore wind and storage.
The fund targets a high single-digit annual net yield from mid-2026 under structures offering collateral, liquidity and governance.
ETIC said the first close brings the European Bank for Reconstruction and Development in as a €20m investor, marking the bank’s first junior debt infrastructure fund commitment in its geography.
It added that junior debt enables independent power producers to diversify financing and free up cash for further development while maintaining capital independence.
“We are delighted to welcome high caliber investors such as EBRD, and by the renewed trust of MAIF,” said Simon Quiret (pictured), co-founder and chief executive of ETIC.
“It is a testament to our investment thesis: capital that is both secure and flexible, to support the growth of small-mid independent actors who play the leading role in Europe’s transition to sovereign and green energy.”
“We are pleased to support Energy Transition Europe II and the independent ETIC team, which aligns with the EBRD’s strategic focus on backing private-market solutions that mobilise capital for renewable energy infrastructure,” added Karsten Sinner, head of infrastructure fund investments at EBRRD.
“The fund provides a specialised junior-debt solution that helps address a financing gap in a segment that remains relatively underserved in the EBRD’s countries of operations across Central, Eastern and South Eastern Europe.”
“Expanding the range of financing tools available to the sector is important to strengthen energy security and accelerate the energy transition across the EBRD countries of operations.”