Belgium-based renewable energy business Enfinity Management has raised €50m from Dutch private equity firm Waterland.
The money will be used to fuel further growth in the dozen countries in which it is already present as well as branching out into new markets. In particular the company is hoping to build on its US presence in the wake of President Obama’s renewable energy plans.
Enfinity has been around since 2005 and is a project manager specializing in solar and wind energy. It recorded a turnover of €83m in 2008, up from €20,000 in 2006, and employees 110 people.
It is looking at tripling its turnover for the coming year, expecting most of this to come from the development of solar power projects on company roofs, residential roofs and on the ground, both with national and international customers.