More than 350,000 European small and mid-sized businesses are set to benefit from a €17.5 billion financing initiative aimed at cutting energy costs and boosting competitiveness. Announced by the European Investment Bank (EIB) Group with support from the European Commission, the program nearly doubles previous funding levels and is expected to mobilize over €65 billion in total investment by 2027. The effort will streamline access through a new “one-stop shop” for SMEs and broaden capital inflows by working with private sector partners.
The initiative also introduces innovative models to ease adoption, including a partnership with the Solar Impulse Foundation to promote energy efficiency “as a service.” This approach allows businesses to pay for outcomes like heat or light without bearing upfront equipment costs, making efficiency upgrades more accessible. EIB President Nadia Calviño called the plan a decisive step to strengthen Europe’s competitiveness, while Solar Impulse’s Bertrand Piccard emphasized that “every kilowatt-hour spared is money earned and emissions avoided.” Together, the measures mark one of the EU’s largest coordinated pushes to make its economy more resilient and climate-friendly.