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Climate Change closes VCTs

Climate Change Capital, the renewable energy investor, has closed two more venture capital trusts following the launch of Ventus VCT in 2005.

Ventus 2 VCT and Ventus 3 VCT were both launched in January 2006 and closed on May 31 with £22.3m of subscriptions, giving the Ventus funds over £37m under management and making them the single largest group of funds specifically targeted at the UK renewable energy sector.

The funds will invest in companies that develop, construct and operate UK renewable energy projects, with a particular emphasis on small to medium-sized onshore wind farms. The funds are also able to invest in companies using other renewable energy technologies such as biomass, hydro and landfill gas.

Mark Woodall, chief executive officer of CCC, said: “We are delighted at the success of the fund raising for Ventus 2 and 3, which shows clearly that investors are becoming increasingly aware of climate change issues and the opportunity to earn attractive dividend returns in an environmentally-friendly investment. The Ventus 2 & 3 proposition is designed specifically to meet the need for finance in the key small to medium-sized renewable energy generation sector. The continued growth of this market will be vital to the UK Government delivering on its climate change objectives.”