The solar energy industry in Benelux is thriving, driven by increased demand for clean, renewable solutions. Numerous companies, from startups to established corporations, are developing technologies such as solar panels and integrated energy systems. Markets are competitive, with firms innovating to reduce costs and enhance efficiency. The use of solar energy is expanding, with investments focusing on residential, commercial, and large-scale applications. Interestingly, the region benefits from supportive government policies and growing public awareness about sustainability. As environmental goals intensify, the outlook for solar installations is positive, paving the way for further advancements in energy innovation.


In this article, we explore 19 solar energy investors located across Benelux. They range from corporate entities like the European Investment Bank to vibrant venture capital firms such as InnoEnergy. These investors span various sizes, from small groups with a handful of employees to large organizations with thousands. Established since 1958, 2010, and beyond, they clearly reflect the industry’s evolution. In 2024, collectively, these investors engaged in a notable number of deals, demonstrating their commitment to driving growth and innovation in the solar energy sector.


Top 19 Solar Energy Investors in Benelux


1. European Investment Bank (EIB)


The European Investment Bank (EIB) is a public entity based in Luxembourg, established in 1958, that provides financial services such as 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 includes the development of Europe’s largest solar PV plant in Portugal. This transaction highlights the EIB's active involvement in financing solar energy initiatives, demonstrating its commitment to promoting growth and job creation through sustainable energy projects.


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 significant transactions within the solar energy context, such as their investments in Ecoligo, which raised over $11.9 million in 2024 to enhance solar energy access in developing regions. They also participated in funding rounds for Pionierkraft, a company that may have solar energy applications. These activities highlight InnoEnergy's commitment to fostering innovations that contribute to the solar energy landscape.


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, such as 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 energy sector. For instance, it participated in the Series A funding round for Brite Solar, a Greek energy company focused on solar glass production, which raised €8.6M in January 2024. Additionally, the EIC has provided grants to companies like Nova Innovation and Insolight, which are also engaged in innovative energy technologies. These activities highlight the EIC's commitment to fostering innovation in the renewable energy space, particularly solar energy.


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 participated in significant transactions in the solar energy sector, including a $9 million investment in Arnergy, a Nigerian startup that aims to power 35,000 SMEs with clean solar energy. Additionally, it has invested in Amped Innovation, providing $1 million to facilitate solar home systems for 3,000 households in Burundi. These investments highlight ElectriFI's commitment to advancing solar energy access in developing regions.


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 to help startups scale and succeed. Notably, Rockstart has made significant investments in the solar energy sector, including a recent seed round for IM Efficiency, which focuses on enhancing solar energy use in road freight transportation. Additionally, they have previously invested in SolarCreed, a startup that raised funds to develop solar solutions. This track record highlights Rockstart's commitment to supporting innovative companies in the solar energy space.


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 consumers and businesses. With a goal of achieving climate neutrality by 2035, Eneco actively engages in community projects and biodiversity initiatives to promote sustainable practices. Notably, Eneco has participated in several transactions within the solar energy sector, including a co-lead investment in Solar Monkey, which raised €4 million to accelerate its international expansion and enhance its product offerings. Additionally, Eneco's involvement in the solar utility company Sunvigo, which raised significant funding in both Series A and Series B rounds, further underscores its commitment to the solar energy industry. These transactions highlight Eneco's strategic focus on fostering innovation and growth in the solar sector, reinforcing its role as a key player in the renewable energy landscape.


7. 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 portfolio includes significant investments in companies like Sonnen, which has raised substantial funding to promote a clean and decentralized energy future. Additionally, SET Ventures has invested in MicoShade, a company that has raised multiple rounds of funding to develop solutions that likely contribute to energy efficiency and sustainability. These transactions highlight SET Ventures' active role in the renewable energy sector, particularly in areas that intersect with solar energy solutions.


8. 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 energy sector, including a notable bond issuance for Fourth Partner Energy, a distributed solar energy firm, where they contributed ₹345 million. Additionally, they participated in a growth capital funding round for Sunvigo, a solar utility company, investing EUR 20 million. These transactions highlight Triodos Bank's commitment to promoting renewable energy and sustainability through their investment strategies.


9. 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 the energy and technology sectors. In 2022 and 2023, Invest-NL has made significant investments in the solar energy sector, 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 offshore floating solar power technology. These transactions highlight their active role in promoting solar energy solutions and technologies, contributing to a more sustainable economy.


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 founded in 1975, based in Amersfoort, Utrecht, Netherlands. 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. In the solar energy context, Oikocredit has been involved in significant transactions, including a $9 million credit fund for SolarNow, which aims to deploy off-grid solar systems in Uganda. Additionally, Oikocredit participated in a $6 million funding round for SolarNow for home systems and invested in Solar Panda, a startup focused on expanding solar energy access in Kenya. These transactions highlight Oikocredit's active role in promoting solar energy solutions in developing regions.


11. 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, focusing on enhancing business growth through various programs. They provide funding, expertise, and networking opportunities to facilitate success in competitive markets, particularly in the sustainable food and energy sectors. Notably, BOM has invested in solar energy-related companies, including Taylor, a Dutch solar tech startup that raised €8M in funding to support product development and team expansion. This investment highlights BOM's commitment to fostering innovation in the solar energy industry. Additionally, BOM has been involved in other transactions, such as their participation in the funding rounds for Lightyear and Wocozon, further demonstrating their active role in the solar energy sector.


12. 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 in 2010, indicating BIO's engagement in the renewable energy sector. Additionally, BIO has been involved in various other transactions, such as supporting Candi with significant debt financing, although these are not directly related to solar energy. Overall, BIO's commitment to sustainable development and its involvement in renewable energy projects position it as a relevant investor in the solar energy landscape.


13. Pdenh


Participatiefonds Duurzame Economie Noord-Holland (PDENH) is a not-for-profit organization based in Haarlem, North Holland, founded in 2014. 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 solar energy-related companies, including Triple Solar, which raised 10 million in growth capital to expand production capacity and develop energy-efficient products, and Ecorus Engineering, which raised funds in a seed round. These transactions highlight PDENH's commitment to supporting the solar energy sector and sustainable initiatives.


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 energy. Notable transactions include Mainstream Renewable Power, which raised over $122 million in debt financing, and Low Carbon, which secured approximately $387 million. These investments reflect ABN AMRO's strategy to support sustainable energy initiatives, positioning them as a key player in the financing of solar energy projects.


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, targeting innovative enterprises with 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 significant strides in the solar energy sector, exemplified by their investment in Solho, a high-tech company specializing in large solar plants, which raised 580,000 euros in funding to accelerate its growth in the Italian market. This investment highlights SHIFT Invest's commitment to supporting sustainable energy solutions and their role in the transition towards renewable energy sources.


16. Gimv

  • Website: gimv.com
  • Type: Venture Capital
  • Headquarters: Antwerp, Flanders, Belgium
  • Founded year: 1980
  • Headcount: 51-200
  • Number of deals in 2024: 8
  • LinkedIn: gimv

Gimv is a venture capital investment firm based in Antwerp, Flanders, Belgium, founded in 1980. The firm partners with innovative companies across various sectors, including Consumer, Healthcare, Life Sciences, Smart Industries, and Sustainable Cities. Gimv provides investment management and strategic support to help businesses grow sustainably. Notably, they have been involved in several transactions relevant to the renewable energy sector, such as their investment in McPhy Energy, which focuses on hydrogen storage technology. This investment highlights Gimv's interest in sustainable energy solutions, as they participated in funding rounds aimed at the global expansion and commercialization of McPhy's products. Additionally, their investment in General Fusion, a company working on fusion energy, further demonstrates their engagement in the energy sector. Overall, Gimv's diverse portfolio and strategic investments in companies related to renewable energy position them as a significant player in the investment landscape for sustainable technologies.


17. Finindus

  • Website: finindus.be
  • Type: Venture Capital
  • Headquarters: Zelzate, Flanders, Belgium
  • Founded year: 1926
  • Headcount: 1-10
  • Number of deals in 2024: 6
  • LinkedIn: finindus

Finindus is a venture capital firm based in Zelzate, Flanders, Belgium, founded in 1926. The firm specializes in providing early-stage and growth financing to innovative technology companies, particularly in the fields of materials, sustainable manufacturing, and industry 4.0. They emphasize proactive and pragmatic assistance to maximize long-term value creation for their portfolio companies. Notably, Finindus has participated in several transactions relevant to the energy sector, including Kraftblock, a Germany-based energy storage startup that raised €20M in a Series B funding round, and Power to Hydrogen, which raised $18M in a Series A round. These investments highlight Finindus's engagement with technologies that can support the transition to renewable energy, including solar energy solutions.


18. EDFI Management Company

  • Website: edfimc.eu
  • Type: Corporate
  • Headquarters: Brussels, Brussels, Belgium
  • Founded year: 2016
  • Headcount: 11-50
  • Number of deals in 2024: 1
  • LinkedIn: edfi-management-company

EDFI Management Company is a not-for-profit organization based in Brussels, Belgium, founded in 2016. It provides financial services aimed at empowering entrepreneurship in developing countries, with a strong focus on renewable energy and agriculture. EDFI Management Company offers tailored financial solutions to European Development Financial Institutions and private sector companies, facilitating sustainable development through impactful investments. Notably, they have been involved in several significant transactions in the solar energy sector, including a Series B funding round for Freyr Energy, a solar startup in India, where they led a $7 million investment. They also participated in a Series A funding round for Solar Panda, which raised $8 million to expand its solar product offerings in Kenya and Sub-Saharan Africa. These transactions highlight EDFI's commitment to supporting solar energy initiatives and their role in advancing renewable energy solutions in developing markets.


19. Energiiq

  • Website: energiiq.nl
  • Type: Venture Capital
  • Headquarters: The Hague, South Holland, Netherlands
  • Founded year: 2017
  • Headcount: 1-10
  • LinkedIn: energiiq

Energiiq is a venture capital investment fund based in The Hague, South Holland, Netherlands, founded in 2017. The firm specializes in financing small and medium-sized enterprises within the energy sector, particularly those with proven technologies aimed at reducing CO2 emissions. Energiiq plays a crucial role in supporting the commercialization of energy innovations and connects businesses with a network of co-investors and partners to facilitate growth. Notably, Energiiq has invested in Exasun, which raised €9 million to build a new PV assembly line and scale internationally, highlighting its involvement in the solar energy sector. Additionally, Energiiq has participated in funding rounds for other energy-related companies, such as Kitepower, which focuses on airborne wind energy systems, showcasing its broader commitment to energy innovation.



Solar Energy 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
SET VenturesAmsterdam, North Holland, Netherlands11-5020075
Triodos BankDriebergen-Rijsenburg, Utrecht, Netherlands1001-500019802
Invest-NLAmsterdam, North Holland, Netherlands51-200202017
OikocreditAmersfoort, Utrecht, Netherlands201-500197512
Brabantse Ontwikkelings Maatschappij (BOM)Tilburg, North Brabant, Netherlands51-200198310
BIO - the Belgian Investment Company for Developing CountriesBrussels, Brussels, Belgium51-20020014
PdenhHaarlem, North Holland, Netherlands1-1020142
ABN AMRO Clearing BankAmsterdam, North Holland, Netherlands501-1000198219
SHIFT InvestAmstelveen, North Holland, Netherlands11-5020094
GimvAntwerp, Flanders, Belgium51-20019808
FinindusZelzate, Flanders, Belgium1-1019266
EDFI Management CompanyBrussels, Brussels, Belgium11-5020161
EnergiiqThe Hague, South Holland, Netherlands1-1020170


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