Thursday 22 January 2026 Energy efficiency
Alba Infra Partners and Rekeep S.p.A. launch MFMC II A strategic partnership aimed at accelerating the development of energy efficiency projects in Italy
Alba Infra Partners, an independent infrastructure fund manager based in Paris and London, and the Rekeep Group are deepening their long-standing partnership through the launch of MFMC II; a platform focused on accelerating the development of infrastructure projects. MFMC II will be 95% invested by Alba and 5% by the Rekeep Group via Rekeep S.p.A. and Teckal S.p.A.
Building on the partnership established in 2018, through which Alba Infra Partners and Rekeep invested together in eight infrastructure projects in Northern Italy, MFMC II replicates and expands on this successful collaboration, with a focus on energy transition projects involving public and social-use assets.
The repeat partnership is targeting a €40m investment, with initial commitments planned for this year, focusing on delivering energy efficiency solutions for social infrastructure, targeting assets that offer long-term cash flow visibility alongside tangible environmental benefits. By bringing together Alba’s investment expertise and Rekeep’s strong operational track record in public services - and its technical capabilities in energy management and decarbonisation - the platform aims to accelerate the deployment of sustainable infrastructure at scale.
Within the new platform, certain equity stakes in project companies held by the Rekeep Group will be progressively transferred to MFMC II.
The first equity stake transferred to the platform in 2026 is the concession for the design, construction, maintenance and operation of a public sector office building in Emilia Romagna. Four other greenfield energy efficiency projects will be added to the platform progressively between 2026 and 2027, with further projects under evaluation to support continued growth.
Claudio Levorato, Executive Chairman of Rekeep, stated: “The platform, beyond its significant financial relevance for our Group, will enable the delivery of essential infrastructure projects alongside Alba’s team, with whom we have collaborated since 2018. The renewed partnership reflects the strength of our relationship and our shared goal of contributing to the decarbonisation of Italy’s public sector”.
Fernando Castagnolo, deal leader at Alba Infra Partners, stated: “MFMC II will focus on the decarbonisation of existing projects providing essential energy efficiency services to communities in Italy”.
Stéphane Grandguillaume, CEO of Alba Infra Partners, added: “This second investment for EOPF II further demonstrates Alba’s deep industrial network in the infrastructure projects market. MFMC II perfectly reflects Alba’s ambition to investing in highly contracted, inflation protected projects with limited development or construction risk, alongside best-in-class industrial partnerships. EOPF II is targeting €500m in total commitments and achieved a first close of €250m in November. The fund expects to have committed approximatively 50% of the first close capital by H1 2026.”
