Earth Capital Partners has held a first close on its debut renewable energy infrastructure fund, which will support solar, biogas and biomass projects in Europe, the Middle East and North Africa. The total fund target is €750 million, although ECP did not give a figure for the first close.
PRESS RELEASE
Earth Capital Partners LLP (ECP)1 today announced the first close of their renewable energy infrastructure fund, ECP Renewable Energy Fund One LP2 (the “Fund”), targeting up to €750 million of investment. The Fund will invest in solar, biogas and biomass projects in Europe, the Middle East and North Africa, giving investors the opportunity to participate in the development of this expanding industry3.
ECP has recently appointed E.ON Climate & Renewables GmbH (EC&R) to play a key role as the Fund’s primary industrial service provider, providing technical skills and industrial experience, particularly in project development, operation and maintenance of assets, as well as potentially contributing to the fund’s investment opportunities.
Ben Cotton, Partner of ECP commented, “The Fund provides a vehicle for institutional investors to engage in infrastructure energy projects which move us towards a low carbon economy. Reaching first close for this Fund is proof of concept of the ECP model, and we expect to bring electricity online from renewable sources within the next 12 months”.
Final close of the Fund is expected to take place by the end of November 2010.
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