What we do
Institutional investors
Equity products
AI Co-Investment Facility
Cleantech Co-Investment Facility
Impact investing at the EIF
Climate & Infrastructure Funds
Technology Transfer
European Angels Fund (EAF) - Co-investments with Business Angels
Venture capital
The Social Impact Accelerator (SIA)
Lower mid-market
Mezzanine Facility for Growth
EFSI Equity instrument
Single EU Equity Financial Instrument
COSME - Equity Facility for Growth
InnovFin Equity
Private equity secondary market transactions
EIF-NPI Equity Platform
ESCALAR Programme
Debt products
New ESIF ERDF Guarantee Fund initiative in Greece
EFSI Private Credit Programme
AGRI Guarantee Facility
AGRI Italy Platform Uncapped Guarantee Instrument
Credit enhancement
Cultural and Creative Sectors Guarantee Facility (CCS GF)
ENSI - Securitisation Initiative
Erasmus+ Master Loan Guarantee Facility
Skills & Education Guarantee Pilot
EREM debt products
Single EU Debt Financial Instrument
Documentary Finance Facility – Bulgaria
The SME Initiative
The SME Initiative Bulgaria
The SME Initiative Finland
The SME Initiative Italy
The SME Initiative Malta
The SME Initiative Romania
The SME Initiative Spain
Inclusive finance
EaSI Financial Instruments
EaSI Capacity Building Investments Window
EaSI Guarantee Instrument
EaSI Funded Instrument
European Progress Microfinance Facility
Entrepreneurs supported through Progress Microfinance
European Fund for Strategic Investments (EFSI)
How does EIF contribute to EFSI
How to apply for EFSI financing
Regional Development - Country and sector-specific initiatives
Normandie Garantie Agri
FAIRE - La Réunion
Auvergne Rhône-Alpes FEADER
Recovery Equity Fund of Funds of Bulgaria
Fons d’Inversió en Tecnologia Avançada (FITA) Catalonia
Dutch Future Fund (DFF)
Dutch Alternative Credit Instrument (DACI)
PORTUGAL BLUE: a new initiative for blue economy investments
JEREMIE Greece Reflows – Business Angels’ Co-Investment Equity Instrument
German Corona Matching Facility (CMF)
Portugal Growth programme
Central and Eastern European Technology Transfer (CEETT)
Croatian Growth Investment Programme (CROGIP) II
Croatian Growth Investment Programme (CROGIP)
Croatian Venture Capital Initiative 2 (CVCi 2)
AGRI Italy Platform Uncapped Guarantee Instrument
ALTER’NA – ESIF EARFD Nouvelle-Aquitaine
Baltic Innovation Fund 1 (BIF 1)
Baltic Innovation Fund 2 (BIF 2)
Central Europe Fund of Funds (CEFoF)
Croatian Venture Capital Initiative (CVCi FoF)
Competitiveness Fund-of-Funds for SMEs in Romania
The Cyprus Entrepreneurship Fund (CYPEF)
Deep and Comprehensive Free Trade Area Initiative East Guarantee Facility (DCFTA)
EU4Business Capped Guarantee
Dutch Growth Co-Investment Programme
Dutch Venture Initiative (DVI-II)
ESIF Fund-of-Funds Greece
EAFRD FoF Portugal
EAFRD FoF Romania
The ERP-EIF Facility
ERP-EIF Co-Investment Growth Facility
The LfA-EIF Facilities
The German Future Fund (GFF) - EIF Growth Facility
INAF – French National Agricultural Initiative
ESIF Energy Efficiency and Renewable Energy Malta
Regional Fund-of-Funds Romania
ESIF Fund-of-Funds Czech Republic
The Silesia EIF Fund of Funds
La Financière Région Réunion
The EIB Group Risk Enhancement Mandate (EREM)
Call for Expression of Interest for FOSTER II
Greater Anatolia Guarantee Facility (GAGF)
G43 - Anatolian Venture Capital Fund Project
InvestBG Equity Instrument
Romania Recovery Equity Fund of Funds
JEREMIE Romania Reflows – Equity Instrument
Luxembourg Future Fund 1 (LFF)
Luxembourg Future Fund 2
Mezzanine 'Fund of Fund' for Germany (MDD)
NEOTEC resources
Polish Growth Fund of Funds (PGFF)
Portugal Venture Capital Initiative (PVCi)
Scottish-European Growth Co-Investment Programme
Slovene Equity Growth Investment Programme (SEGIP)
Swedish Venture Initiative (SVI)
Turkish Growth and Innovation Fund (TGIF)
Western Balkans Enterprise Development & Innovation Facility (WB EDIF)
EAFRD FoF Greece
Irish Innovation Seed Fund (IISF)
RRF Czech Republic Fund of Funds

The European Investment Fund closes a commitment to invest €50 million in Spanish fund Everwood Renewables Europe V FCR focusing on renewable assets in Southern Europe

    Date: 13 December 2021
  • Everwood Renewables Fund V is a fund managed by Everwood Capital which is a Spain based fund manager specialized in managing renewable energy funds
  • Everwood Fund V is one of the first Spanish funds to classify under Art. 9 of the Sustainable Finance Disclosure Regulation (SFDR), the highest classification in the new European sustainability benchmark

The European Investment Fund (EIF), part of the European Investment Bank Group (EIB), has closed a commitment to invest €50 million in EVERWOOD RENEWABLES EUROPE V FCR, a Spanish-based Fund managed by Everwood Capital devoted to investing in renewable assets in Southern Europe. Everwood Fund V will invest in developing, constructing, and operating a portfolio of new renewable projects, primarily photovoltaic assets.

Everwood Fund V is also one of the first Spanish funds to classify under Art. 9 of the Sustainable Finance Disclosure Regulation (SFDR), the highest classification under the new directive. This implies that the investments under Everwood Fund V will contribute to reducing CO2 emissions and will be aligned to the EU Taxonomy.

Everwood complies with all environmental, regulatory and labor requirements for the development of its renewable project and has implemented pre-investment processes to assess the sustainability impact of the project before the investment is closed. Moreover, the fund will also actively monitor over 40 sustainable KPIs during the lifetime of the project.

The EIF’s investment commitment to Everwood Fund V is fully aligned with the EIB Group Climate Bank Roadmap’s objectives and the EU Taxonomy classification, contributing to achieving the goal of 45% reduction of CO2 emissions by 2035 set in at COP26.

Everwood Fund V has already closed the acquisition of a 1 GW portfolio in Spain comprising c. 20 projects, which are currently under development and expected to be fully operational by 2024. This portfolio provides visibility to c. 70% of the Fund’s future assets, making the investment more attractive than other “blind-pool” vehicles. With EIF’s commitment, Everwood Fund V reaches c. € 250 million closed commitments and is confident to reach its € 500 million target in 2022.

Alain Godard, Chief Executive of the EIF, said: “This is yet another signal about the EIF strong commitment to promoting green and sustainable investments, aligned with the EU taxonomy. By backing Everwood Fund V, we will support the development of renewable energy sources in Sothern Europe, with special focus in Spain, one of the largest solar markets in Europe.”

For Everwood Fund V, the commitment of EIF is a key milestone. Everwood founding partner, José Antonio Urquizu has declared: “EIF’s investment commitment is a world-class recognition of both the investment strategy and the management company, as EIF ensures alignment not only with return standards but also with sustainability, ethics and market-oriented standards in the private equity industry.” Furthermore, Alfredo Fernández, founding partner added: “The commitment of EIF to the Fund has only been completed after a thorough due-diligence process, which we are confident will provide comfort to other institutional investors to achieve our target Fund size in the following months.”

Background information:

The European Investment Fund is part of the European Investment Bank Group. Its central mission is to support Europe's small and medium-sized enterprises (SMEs) by helping them to access finance. The EIF designs and develops both venture and growth capital, guarantees and microfinance instruments which specifically target this market segment. The EIF is also active in supporting Climate and Infrastructure fund investments with a strong focus on climate action & environmental sustainability.

Through its activities, the EIF fosters EU objectives in support of countering climate change as well as fostering innovation, research and development, entrepreneurship, growth and employment.

Everwood Capital is a Spain based Management Company specialized in renewable assets. Since its foundation in 2015, Everwood Capital has raised five Funds to invest in renewable energy assets, with a special focus on photovoltaic projects. Funds I, II and III have already been fully divested with realized net annual returns to investors of between 18% and 33% net IRRs. Everwood Fund IV, incorporated in 2018, was the first Spanish Fund devoted to greenfield utility scale photovoltaic projects, strategy continued by Everwood Fund V, which is still under fundraising and is expected to achieve its final closing in 2022.

Press contacts:


Lorenzo Squintani, tel.: +352 691 285 772, l.squintani@eib.org

Website: www.eif.org – Press office: +352 4379 21000 – press@eib.org

Follow us on Twitter@eif_eu

Everwood Capital:
Pablo Martinez, tel.: +34 91 133 27 57

Website: www.everwoodcapital.cominfo@everwoodcapital.com

Follow us on LinkedIn https://www.linkedin.com/company/10507417/


We use cookies to give the best browser experience on our website. or change cookie settings.

Note: Following the recent withdrawal of the United Kingdom from the European Union, we are updating the relevant EIF.org pages.


Copyright ©

 European Investment Fund   – The European Investment Fund is not responsible for the content of external internet sites.