Renewable energy is derived from natural resources like wind and solar power, hydrogen production, and storage. It leads to a cleaner way of producing energy and less dependence on fossil fuels. Renewable energy is a catalyst in the fight against climate change.


At Davos 2024, it was discussed that tackling climate change requires a systemic approach. This approach includes pricing carbon ($85 by 2030) to bring climate into macro policy discussions, setting emission reduction targets for countries that are high emitters, and implementing adaptation for vulnerable countries.


At COP28 in Dubai, it was clearly stated that although good progress has been made in the deployment of renewables, countries must triple the amount of renewable energy available and double energy efficiency improvement. This translates to an increase in total renewable installed capacity from 3382GW in 2021 to 11174 GW by 2030 and an increase of the renewable share in generation from 28% in 2021 to 68% in 2030.


The numerical targets should be used in conjunction with new regulations and stricter boundaries for corporate emissions and the implementation of the transition plans.

The frameworks may include guidelines for integrating renewable energy into national energy systems and mechanisms to monitor progress. A collaborative approach between countries and the sharing of knowledge and best practices will facilitate the adoption of sustainable energy sources.


The main challenge of renewable energy generation is that it is more expensive than fossil fuels. However, the impressive improvement in costs in the last few years is encouraging. Based on a study published at the COP28 and the International Renewable Energy Agency, solar photovoltaic used to be 710% more expensive than fossil fuels in 2010 to reach -29% in 2022, and wind offshore from 95% more expensive to -52%. 


Energy efficiency is one of the easiest ways to reduce non-renewable energy usage. This includes electric and plug-in hybrid vehicle stock, building renovation rates, smart meters, and heat pumps. In terms of regulations, the above requires new building and appliance codes.


Private funding is an essential enabler in the success and implementation of the above.

In 2023, the total corporate funding for the global sector came to a decade-high of $32 billion, and global VC and private equity funding in the solar industry came to $6.9 billion. There has been substantial investment, but the macroeconomic and geopolitical challenges slowed M&A activity.


Sirec Energy, one of Greece’s most significant private equity funds, formed by the European Sustainable Investment Fund, remains focused and consistent in investing in energy efficiency and the circular economy.


The principal investments have been towards installing solar panels with net metering for industrial and commercial use, LED lighting on public roads, the transition to green buildings and wind power projects. 


Another revolutionary area that Sirec Energy is planning to invest in is the electric light passenger vehicle stock, which is expected to significantly reduce transport emissions. Sirec’s investment strategy follows the revolution in urban transportation. 


Electric taxis and ridesharing platforms are at the forefront of this transformation. 

Specifically, ridesharing platforms provide efficient, shared transportation options that reduce congestion and promote safety. Utilities play a vital role in this revolution, investing in charging infrastructure and integrating electric vehicles into the smart grid.


Dionissis Alissandratos, Managing Director of Sirec Energy commented:


Sirec Energy is the manager of the European Sustainable Fund (‘EuSIF’), which invests in multiple projects related to renewable energy generation and the circular economy. We envision a future with less dependence on fossil fuels, and therefore, we invest in critical projects in environmental sustainability.


On the advisory front, we help organisations reduce their environmental footprint and implement energy-saving plans that reduce operational costs and contribute positively to a greener world. 


The second closing of our €20 million Green Fund is a testament to our investors’ trust and proof of their commitment to fueling our future growth. 


This year, our main priorities will focus on LED lighting projects and transforming and developing energy-efficient buildings, solar panel installations, and net metering”.


About Sirec Energy Capital Partners

Sirec Energy is an independent Private Equity Firm, managing the European Sustainable Investment Fund (EUSIF) with €70m assets under management and a focus on investing in environmental sustainability and energy efficiency projects.

Since its establishment in 2019, the team has managed projects of more than €400m in energy efficiency and renewable energy production across seven European countries.