More than 350,000 companies across Europe are set to make energy efficiency gains through a €17.5 billion financing initiative by the European Union. The energy efficiency for small and medium-sized enterprises (SMEs) initiative, led by the European Investment Bank (EIB) Group and supported by the European Commission, seeks to help SMEs using proven energy-saving technologies to lower their energy bills and boost their resilience and competitiveness.

The €17.5 billion financing effort by the EIB Group will nearly double the current level of support during the 2025-2027 period. It will target energy efficiency and decarbonisation steps taken by SMEs and will use a combination of existing and new financial products, including debt and equity instruments.

The initiative aims to mobilise total investment of over €65 billion by 2027 for energy savings by SMEs, helping to close a market gap in Europe. The initiative was announced by EU Commissioner for Energy & Housing Dan Jørgensen and EIB Group President Nadia Calviño at a conference in Brussels today.