The European Investment Fund ( EIF ) has signed a €150 million ( US$162.77 million ) cornerstone commitment to the White Summit Capital Decarbonization Infrastructure Fund II ( WDIF II ).

The project is backed by the InvestEU programme, which aims to mobilize over €372 billion in additional investment for EU policy priorities over the period 2021-2027.

EIF’s significant commitment to the WDIF II fund, the EIF says, reflects the important contribution WDIF II is expected to make towards advancing the EU’s objectives. These include the transition to clean energy, addressing the consequences of climate change, and ensuring security of energy supply, among others.

WDIF II, which has a target size of €500 million and is classified as an Article 9 fund under the Sustainable Finance Disclosure Regulation, will help address the funding gap in the energy transition middle market by supporting infrastructure companies across Europe to scale up their asset base and support their development.

Marjut Falkstedt, EIF chief executive, notes: “By leveraging the expertise and financial strength of the EIF and with the support of the InvestEU programme, alongside White Summit Capital, we aspire to mobilize additional capital, expedite decarbonization efforts and contribute to building a sustainable future.”