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EnerCap Holds First Close

EnerCap Capital Partners, a Czech private equity firm, has held a EUR75 million first close on its first fund, which will focus on renewable energy projects in Central and Southeastern Europe. Limited partners include the European Investment Bank and the European Bank for Reconstruction & Development. It plans to hold a of EUR100 million final close early next year.



EnerCap Capital Partners is pleased to announce the First Closing of the EnerCap Power Fund I L.P. with total commitments of EUR75 million from institutional investors. The European Investment Bank (EIB), the Fund's cornerstone investor, has committed EUR25 million signed for by EIB Vice President Marta Gajęcka on 28th September 2007. The European Bank for Reconstruction and Development (EBRD) also committed EUR25 million signed for by EBRD President Jean Lemierre on 25th October 2007.


Private sector investors have committed a further EUR25 million, taking the total commitments to EUR75 million. Along with the closing of a smaller parallel fund (EPF LP IA) in June, the total capital committed to EnerCap to-date amounts to EUR77 million.

“This closing is a significant milestone for EnerCap and for the renewable energy sector in Central and South-Eastern Europe”, said EnerCap Partner Michael White. “Our investors, CE Energy Holding [EnerCap's partner for wind projects], and other stakeholders have worked diligently with our investment team to make this a reality”.


Alongside continued fund raising efforts with an aim to close the Fund with at least EUR100 million by Q1 2008, EnerCap can now invest in a number of wind energy and bio-energy projects that are ready to be financed. EnerCap has already provided bridge loans to several projects located in Poland, Slovakia, Hungary and Croatia. EnerCap plans to close one investment by the end of 2007, and at least two additional investments by mid-2008.


EnerCap Partner Ewan Gibb said, “Wind energy is expected to contribute significantly to the renewable energy mix in Central and South-Eastern Europe, following a similar growth pattern seen in Western Europe. We look forward to working with our partners in building a strong portfolio of projects across the region.”