Commission signs agreement with PMV to help unlock more than €800 million of investments in sustainable infrastructure projects across Belgium

PMV will use the European Union guarantee to mobilise investments in the Sustainable Infrastructure Window of the InvestEU programme. More specifically, the guarantee will provide indirect equity through an Investment Platform for a wide range of private and public sector entities, in several priority areas of InvestEU, including sustainable transport, renewable energies, circular economy, ICT and digitalization. These investments will help the EU to achieve its broader strategic objectives of securing the green and digital transitions.

This agreement was made possible with the support of the InvestEU programme, which aims to trigger more than €372 billion in additional investment over the period 2021-27. InvestEU provides an EU budgetary guarantee to implementing partners to increase their risk-taking capacity and therefore contributes to mobilising public and private investment for the EU's policy priorities.

European Commissioner for Economic Affairs, Paolo Gentiloni, said: “InvestEU is supporting investments across the EU that will help us deliver our common objectives on the green and digital transitions. I am delighted that with today’s agreement PMV has become an InvestEU implementing partner. By working together, we will support Belgium’s progress towards a greener and more innovative economy – providing businesses with the support they need to continue to grow and create high quality jobs.”

Jo Brouns, Flemish Minister for Economy, Innovation, Work, Social Economy and Agriculture and Guardian Minister of PMV said: “The digital and green transition together with the future competitiveness of our industry will be important topics during the Belgian EU presidency where I will be presiding Competitive Council. We should not only see the transition to a carbon-free economy as a challenge but also as an opportunity for creating new jobs. Investing in new projects will be the best guarantee for maintaining our future prosperity.”

Michel Casselman, CEO of PMV, added: The transition to a carbon-free economy is a critical step to limit the effects of climate change. To achieve this, we must take more risks in financing early-stage renewable energy projects, which will require a concerted effort from all stakeholders, including governments, investors, and the private sector. The shift to a carbon-free economy is not only an environmental imperative but also an economic opportunity. Investing in renewable energy projects can create new jobs, stimulate innovation, and drive economic growth. We must seize this opportunity and take bold steps towards a sustainable future. Therefore we are delighted with the European commission acknowledging PMV as an implementing partner.

Background

The InvestEU programme provides the EU with crucial long-term funding by leveraging substantial private and public funds in support of a sustainable recovery. It also helps to mobilise private investments for the EU's policy priorities, such as the European Green Deal and the digital transition. The InvestEU Programme brings together under one roof the multitude of EU financial instruments available to support investment in the EU, making funding for investment projects in Europe simpler, more efficient and more flexible. The programme consists of three components: the InvestEU Fund, the InvestEU Advisory Hub, and the InvestEU Portal. The InvestEU Fund is implemented through implementing partners who invest in projects using the EU budget guarantee of €26.2 billion. The entire budgetary guarantee backs the investment projects of the implementing partners, increase their risk-bearing capacity and thus mobilise at least €372 billion in additional investment.

PMV is a Flemish investment company building a sustainable Flemish economy, the engine of our prosperity and well-being. PMV partners ambitious companies and projects, committed to social impact and financial return. PMV finances promising companies from the very start, through growth and internationalisation. PMV offers tailor-made financial solutions to all entrepreneurs with a good business plan and a strong management team. It does so with capital, loans and guarantees. It also realises, with and for the government, and other partners, projects that are important for prosperity and welfare in Flanders. PMV has a portfolio with 1.7 billion euro of assets under management.