In 2022, Catella launched the world’s first energy-positive residential impact fund to invest in Elithis Towers designed to produce more energy than the building and tenants consume. Vistra were proud to be selected as the fund administrator and we invited Xavier Jongen, Managing Director of Catella Residential Investment Management to our Luxembourg office to discuss more about the innovative fund.
Following Elithis’ successful build of the world's first energy-positive residential tower in Strasbourg, Catella partnered up with the French developer to launch a fund that will invest a planned €500 million to build 25-30 more towers across France and Europe. The first large-scale investment programme of its kind for decarbonising Europe’s housing sector, which is the biggest contributor to EU carbon emissions. Elithis’ energy-positive impact towers produce energy by solar panels on the roof and building facade. As well as being environmentally friendly, they offer a compelling model for tackling the crisis in housing as they help to eliminate household energy bills and offer affordable rents.
Watch the interview below to hear more about how the project came about, the changing attitude of investors towards ESG projects, challenges they faced as an article 9 fund (dark green) under the EU SFDR regulation, and more.