The solar power industry in Benelux is rapidly growing, driven by an increasing demand for renewable energy solutions. Companies range from energy tech startups to established corporations focusing on solar panel manufacturing and installation. Innovative projects and research are being developed to improve efficiency and affordability, making solar options more accessible. This industry's future looks bright, with governments investing in renewable initiatives and community-driven projects becoming more common. Notably, the growing synergy between solar energy providers and technology firms is paving the way for advancements, ensuring a sustainable energy transition in the region.


The list features a mix of investor types, including venture capital firms and corporate investors, headquartered in various cities across Benelux. With 2024 investments counting up to 572 and varied company sizes, these entities have actively supported solar power initiatives. Many were founded in the early 2000s, demonstrating experience, while newcomers indicate a trend in sustainable investment. Notably, the European Investment Bank, a key financier, made a significant number of transactions, showing the fervor in this sector.


Top 15 Solar Power Investors in Benelux


1. European Investment Bank (EIB)


The European Investment Bank (EIB), founded in 1958 and based in Luxembourg, is a public entity that provides a range of financial services, including loans, equity investments, guarantees, and advisory services, to support sustainable projects across various sectors. In 2023, the EIB provided a €150 million loan to Iberdrola to develop 400MW of photovoltaic (PV) and wind projects in Italy, which highlights its involvement in solar energy initiatives. Additionally, Iberdrola is working on developing Europe’s largest solar PV plant in Portugal, further showcasing the EIB's commitment to financing renewable energy projects. The EIB's diverse investment portfolio and focus on sustainability make it a significant contributor to the solar power industry.


2. InnoEnergy

  • Website: innoenergy.com
  • Type: Venture Capital
  • Headquarters: Eindhoven, North Brabant, Netherlands
  • Founded year: 2010
  • Headcount: 201-500
  • Number of deals in 2024: 52
  • LinkedIn: innoenergy

EIT InnoEnergy is a not-for-profit organization founded in 2010, based in Eindhoven, North Brabant, Netherlands, dedicated to accelerating sustainable energy innovations. It serves as a marketplace for energy solutions, offering training programs and support for innovators and corporates in the energy sector. InnoEnergy collaborates with various stakeholders to tackle the challenges of energy transition and sustainability. Notably, InnoEnergy has been involved in several transactions relevant to the solar power industry, including investments in Ecoligo, which raised significant funding in 2024, and Holosolis, which also secured funding in the same year. These transactions highlight InnoEnergy's active role in supporting solar power initiatives and innovations.


3. European Innovation Council (EIC)


The European Innovation Council (EIC) is a public entity based in Brussels, Belgium, established to support innovation and entrepreneurship across Europe. Founded in 1958, the EIC offers various funding programs, including the EIC Accelerator and EIC Pathfinder, aimed at helping startups and SMEs develop and scale their technologies. In recent years, the EIC has been involved in several transactions relevant to the solar power sector. Notably, it participated in the funding of Brite Solar, a Greek energy company that raised €8.6M in Series A funding to develop and install a solar glass production line. This investment highlights the EIC's role in fostering innovation in solar technology. Additionally, the EIC has provided grants to other energy technology companies, indicating its broader commitment to supporting sustainable energy solutions.


4. EDFI ElectriFI - The Electrification Financing Initiative


EDFI ElectriFI - The Electrification Financing Initiative is a not-for-profit impact investment facility based in Belgium, founded in 2016. It focuses on financing renewable energy projects in developing countries, providing both equity and debt financing along with technical assistance to enhance access to clean energy. ElectriFI targets renewable energy companies and projects, particularly in rural and underserved areas, to promote sustainable energy solutions. Notably, ElectriFI has been involved in several transactions relevant to solar power, including a $9 million investment in Arnergy, a Nigerian startup that aims to power up to 35,000 SMEs with clean solar energy. Additionally, ElectriFI participated in funding rounds for Solar Panda, which raised $4 million to support solar energy initiatives. These transactions highlight ElectriFI's active role in the solar power sector.


5. Rockstart

  • Website: rockstart.com
  • Type: Venture Capital
  • Headquarters: Amsterdam, North Holland, Netherlands
  • Founded year: 2011
  • Headcount: 11-50
  • Number of deals in 2024: 16
  • LinkedIn: rockstart

Rockstart is a startup accelerator and investment firm based in Amsterdam, Netherlands, founded in 2011. They empower early-stage founders across various sectors, including AgriFood, Energy, and Emerging Technology, by providing investment, mentorship, and networking opportunities. In the context of solar power, Rockstart has been involved in several relevant transactions, such as their investment in IM Efficiency, which focuses on enhancing the use of solar energy in road freight transportation. This investment, along with their previous engagements with companies like SolarCreed, which raised funds to develop solar-related solutions, highlights their active role in supporting startups that contribute to the solar energy sector.


6. Eneco Wind Belgium S.A.

  • Website: eneco.com
  • Type: Corporate
  • Headquarters: Wavre, Wallonia, Belgium
  • Founded year: 1995
  • Headcount: 1-10
  • Number of deals in 2024: 1
  • LinkedIn: eneco-wind-belgium-s-a-

Eneco Wind Belgium S.A. is a corporate investor based in Wavre, Wallonia, Belgium, founded in 1995. The company is dedicated to providing sustainable energy solutions, focusing on renewable sources such as wind, solar, and heat for both consumers and businesses. Eneco has a strong commitment to achieving climate neutrality by 2035 and actively engages in community projects and biodiversity initiatives to facilitate the energy transition. Notably, Eneco has participated in several transactions within the solar power sector, including a significant investment in Solar Monkey, a Dutch startup that raised €4 million in growth capital to enhance its product offerings and expand internationally. This investment, along with their involvement in other solar-related ventures, underscores Eneco's active role in promoting solar energy solutions.


7. Invest-NL

  • Website: invest-nl.nl
  • Type: Venture Capital
  • Headquarters: Amsterdam, North Holland, Netherlands
  • Founded year: 2020
  • Headcount: 51-200
  • Number of deals in 2024: 17
  • LinkedIn: invest-nl

Invest-NL is an impact investment firm based in Amsterdam, founded in 2020, that focuses on financing sustainable and innovative projects in the Netherlands. They support entrepreneurs with promising plans for societal transitions, particularly in energy and technology sectors. In the solar power context, Invest-NL has made significant investments, including €81 million in Lightyear, a Dutch solar EV startup, and €9 million in Exasun, which is building a new PV assembly line. They also invested €14.5 million in HyET Solar to scale up production capacity and €15 million in SolarDuck for the development of offshore floating solar power technology. These transactions highlight their active role in promoting solar energy solutions and their commitment to a sustainable economy.


8. SET Ventures

  • Website: setventures.com
  • Type: Venture Capital
  • Headquarters: Amsterdam, North Holland, Netherlands
  • Founded year: 2007
  • Headcount: 11-50
  • Number of deals in 2024: 5
  • LinkedIn: setventures

SET Ventures is a venture capital firm based in Amsterdam, Netherlands, founded in 2007. The firm is dedicated to advancing a carbon-free energy system by investing in innovative energy technologies and supporting energy entrepreneurs with both capital and insights. Their investment portfolio includes notable transactions such as Sonnen, a company focused on clean, decentralized energy solutions, where they participated in multiple funding rounds, including a Series B and Series D. Additionally, they have invested in MicoShade, which has raised significant capital in various funding rounds, indicating their active role in supporting startups that contribute to renewable energy solutions. Through these investments, SET Ventures demonstrates a commitment to fostering innovation in the energy sector, particularly in areas that align with solar power and other renewable technologies.


9. Triodos Bank

  • Website: triodos.com
  • Type: Venture Capital
  • Headquarters: Driebergen-Rijsenburg, Utrecht, Netherlands
  • Founded year: 1980
  • Headcount: 1001-5000
  • Number of deals in 2024: 2
  • LinkedIn: triodos-bank

Triodos Bank N.V. is a public entity operating as an ethical bank focused on sustainable finance, founded in 1980 and based in Driebergen-Rijsenburg, Utrecht, Netherlands. The bank offers services such as depository receipts, green bonds, and investment management, catering to individuals and businesses seeking to align their financial activities with ethical and sustainable practices. Triodos Bank has made significant investments in the solar power sector, including a bond issuance for Fourth Partner Energy, a distributed solar energy firm, and a growth capital funding round for Sunvigo, a solar utility company. These investments reflect Triodos Bank's commitment to promoting transparency and positive impact in the banking sector while supporting the transition to renewable energy.


10. Oikocredit

  • Website: oikocredit.coop
  • Type: Corporate
  • Headquarters: Amersfoort, Utrecht, Netherlands
  • Founded year: 1975
  • Headcount: 201-500
  • Number of deals in 2024: 12
  • LinkedIn: oikocredit

Oikocredit is a not-for-profit social investment organization based in Amersfoort, Utrecht, Netherlands, founded in 1975. It focuses on providing financial support to organizations in the financial inclusion, agriculture, and renewable energy sectors. Oikocredit aims to enhance the social impact of its partners, particularly those serving low-income communities, by offering loans and equity investments. Notably, Oikocredit has been involved in significant transactions within the solar power sector, including a $9 million credit fund for SolarNow to deploy off-grid solar systems in Uganda, a $6 million funding round for SolarNow for home systems, and investments in Solar Panda and African Clean Energy. These transactions highlight Oikocredit's commitment to advancing solar energy solutions and supporting sustainable development in emerging markets.


11. BIO - the Belgian Investment Company for Developing Countries


The Belgian Investment Company for Developing Countries (BIO) is a not-for-profit organization established in 2001, based in Brussels, Belgium. BIO focuses on providing investment support and development financing to private sector companies in developing countries, aiming to empower these businesses to thrive and contribute to their local economies. Among its notable transactions, BIO has invested in Polaris Renewable Energy, which raised over $11 million in debt financing for renewable energy projects. Additionally, BIO has supported Candi with multiple debt financing rounds totaling over $10 million, indicating a commitment to financing sustainable initiatives. These transactions highlight BIO's active role in promoting renewable energy, including solar power, in developing regions.


12. Brabantse Ontwikkelings Maatschappij (BOM)


Brabantse Ontwikkelings Maatschappij (BOM) is a venture capital firm based in Tilburg, North Brabant, Netherlands, founded in 1983. BOM acts as a development agency that supports startups and scale-ups in the Brabant region, offering various programs aimed at enhancing business growth, including readiness programs for venture capital and innovation in sustainable food and energy sectors. Notably, BOM has invested in solar technology companies, including Taylor, which raised €8M in funding to support product development and team expansion in the solar sector. Additionally, BOM has been involved in other transactions, such as their investment in Lightyear, a company focused on solar-powered vehicles. This involvement in solar-related ventures highlights BOM's commitment to fostering innovation in the renewable energy space.


13. Pdenh


Participatiefonds Duurzame Economie Noord-Holland (PDENH) is a not-for-profit organization founded in 2014, based in Haarlem, North Holland, Netherlands. It focuses on promoting sustainable economic development by investing in innovative projects and providing financing and advisory services to companies that contribute to a sustainable and circular economy. PDENH collaborates with various partners to stimulate sustainable business activities in the region. Notably, PDENH has invested in Triple Solar, which raised 10 million in growth capital to expand production capacity and develop energy-efficient products, including solar technology. Additionally, PDENH has been involved in other transactions such as Ecorus Engineering, which indicates their engagement in the solar power sector and related sustainable technologies.


14. ABN AMRO Clearing Bank

  • Website: abnamro.com
  • Type: Venture Capital
  • Headquarters: Amsterdam, North Holland, Netherlands
  • Founded year: 1982
  • Headcount: 501-1000
  • Number of deals in 2024: 19
  • LinkedIn: abn-amro-clearing-bank-n-v-

ABN AMRO Clearing Bank, founded in 1982 and based in Amsterdam, North Holland, is a banking institution that offers a variety of financial services, including personal banking, business banking, and investment management. The bank has been involved in several significant transactions in the renewable energy sector, particularly in solar power. Notable transactions include a debt financing of $122,372,741 for Mainstream Renewable Power in October 2019, and a substantial $387,022,994 raised by Low Carbon in May 2023. These investments reflect ABN AMRO's commitment to supporting the growth of renewable energy, including solar power, as part of their broader investment strategy.


15. SHIFT Invest

  • Website: shiftinvest.com
  • Type: Venture Capital
  • Headquarters: Amstelveen, North Holland, Netherlands
  • Founded year: 2009
  • Headcount: 11-50
  • Number of deals in 2024: 4
  • LinkedIn: shift-invest

SHIFT Invest is a venture capital fund based in Amstelveen, North Holland, Netherlands, founded in 2009. The firm focuses on impact investing in innovative enterprises that have significant potential for environmental impact. They provide funding and support to early-stage companies across various sectors, including energy transition, smart food & agriculture, and sustainable mobility. Notably, SHIFT Invest has made investments in the solar power sector, such as their participation in a funding round for Solho, a high-tech company specializing in large solar plants, which raised 580,000 euros to accelerate its growth in the Italian market. This investment highlights SHIFT Invest's commitment to supporting sustainable energy solutions and their active role in the solar power industry.



Solar Power Insights: Key Investors in Benelux


InvestorHeadquarterSizeFoundedDeals 2024
European Investment Bank (EIB)Luxembourg1001-5000195899
InnoEnergyEindhoven, North Brabant, Netherlands201-500201052
European Innovation Council (EIC)Brussels, Brussels, Belgium201-500195857
EDFI ElectriFI - The Electrification Financing InitiativeBelgium11-5020162
RockstartAmsterdam, North Holland, Netherlands11-50201116
Eneco Wind Belgium S.A.Wavre, Wallonia, Belgium1-1019951
Invest-NLAmsterdam, North Holland, Netherlands51-200202017
SET VenturesAmsterdam, North Holland, Netherlands11-5020075
Triodos BankDriebergen-Rijsenburg, Utrecht, Netherlands1001-500019802
OikocreditAmersfoort, Utrecht, Netherlands201-500197512
BIO - the Belgian Investment Company for Developing CountriesBrussels, Brussels, Belgium51-20020014
Brabantse Ontwikkelings Maatschappij (BOM)Tilburg, North Brabant, Netherlands51-200198310
PdenhHaarlem, North Holland, Netherlands1-1020142
ABN AMRO Clearing BankAmsterdam, North Holland, Netherlands501-1000198219
SHIFT InvestAmstelveen, North Holland, Netherlands11-5020094


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