Platina’s European Renewable Energy Fund has held a final close on EUR 209 million, just short of its EUR 250 million target, after 2.5 years of fundraising. The fund invests EUR 10-50 million in European renewable electricity generation assets and businesses in the construction, development or operational phase. The fund has already made investments in Orites wind farm in Cyprus (July 2009) and Arico solar photovoltaic plant in Spain (November 2009). The fund’s investors include the French private equity fund of funds manager, Access Capital Partners; UK government agency, Mutual Energy; and Bermudan domiciled asset manager, Said Holdings.
There are currently 58 funds on the road considering a degree of renewable energy exposure as part of their investment mandate, which equates to 50% of infrastructure funds currently in market. However, this figure drops to 16 funds, or 14% of the infrastructure funds raising capital, when funds targeting renewable energy alone are considered. These 16 funds are targeting a combined total of just over USD 6.3 billion, highlighting the fact that a large amount of capital will be available for investment in renewable energy in upcoming years.
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