(Zurich, Hamburg, 16th June 2025) Solas Sustainable Energy Fund (SSEF), managed by Solas Capital AG, has finalized a €10 million non-recourse electric vehicle (EV) charging infrastructure agreement with Greenman Energy Operations GmbH & Co. KG. This partnership aims to enhance the EV charging landscape across Germany by integrating charging stations into grocery-anchored real estate, thus improving their sustainability credentials.
This initiative marks one of the largest non-recourse financing transactions in Germany’s EV charging sector. Under this agreement, the project plans to install 132 EV charging stations at 26 sites, primarily associated with grocery retail locations. This deployment is expected to mitigate approximately 537 metric tons of CO₂ emissions in 2025 alone, and over the project’s lifetime, cumulative reductions are projected to exceed 15,350 metric tons, equating to the removal of thousands of petrol vehicles from the roads.
Solas Capital AG, based in Zurich with additional offices in Munich and Dublin, is focused on energy efficiency investment. The financing agreement will enable the installation of charging stations and solar infrastructure at properties owned by Greenman OPEN, a sister organization that manages 90 grocery-anchored properties across Germany.
This collaboration not only expands Solas Capital’s portfolio but also positions the firm as a leader in promoting building decarbonization throughout Europe. The partnership aims to channel investments into energy efficiency projects, which account for 40% of Europe’s total energy consumption. By bridging the funding gap between institutional investors and energy efficiency initiatives, the alliance seeks to expedite the transition toward carbon neutrality.
Slawomir Huss, Partner at Solas Capital, stated, “Our collaboration with Greenman Energy reflects our goal to finance innovative energy infrastructure that boosts building efficiency. We are committed to delivering sustainable EV charging and solar solutions to grocery-anchored properties, benefiting both property owners and consumers.”
Sebastian Carneiro, CEO and Co-founder of Solas Capital, added, “This partnership with Greenman Energy offers stable cash flows and favorable risk-adjusted returns for our institutional investors while contributing to measurable decarbonization outcomes. By financing EV charging and solar installations at grocery-anchored real estate, we are building a diversified portfolio that combines stable long-term returns with improved energy security in Germany.”
Maximilian Bley, CEO and Founder of Greenman Energy, emphasized the partnership’s strategic advantage: “Collaborating with Solas Capital empowers us to scale our operations more effectively. This agreement not only advances our business but also enhances the way energy is supplied at locations where people shop, live, and commute.”
About Solas Capital AG: Solas Capital AG is a specialized investment advisory firm focused on energy efficiency financing, with teams in Zurich, Munich, and Dublin. As the largest team in Europe dedicated to energy efficiency in buildings, the firm emphasizes the importance of energy efficiency alongside renewable energy in achieving climate goals. Its flagship, the Solas Sustainable Energy Fund ICAV, is supported by the European Investment Bank, Munich Re Group, and the European Commission’s LIFE Programme. The fund has already facilitated investments aimed at avoiding 1 million tonnes of CO₂ emissions and saving over €360 million in energy costs. A subsequent fund is in the works to further support the transition to a carbon-neutral society.
About Greenman Energy: Greenman Energy Operations GmbH & Co KG is a new division of the Greenman Group, focusing on solar energy and EV charging solutions. The Greenman Group specializes in managing grocery-anchored real estate, employing over 200 people. With headquarters in Ireland, the group includes eleven regulated entities that offer fund investments alongside administrative and operational management services for grocery-anchored real estate investment funds in the EU.
