Earth Capital Partners LLP (ECP)1 today announced the launch of a new renewable energy 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 exciting expanding industry.
ECP has appointed E.ON Climate & Renewables (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.
“EC&R is already a leading renewables player” said Cord Landsmann CFO of EC&R. “This novel approach will be another way for EC&R to leverage its expertise in solar, biogas and biomass generation. It plays to our strengths in developing, building and operating industrial sized projects and will help us take advantage of the expected growth in renewable energy3”.
Stanley Fink, Chairman of ECP commented, “We are delighted to be launching this innovative fund and to have alongside us a company committed to driving the renewable energy industry forward. EC&R and ECP see renewable energy as a fundamental component of the shift to a sustainable economy. This fund crystallises ECP’s commitment to generating a dual return from the investment products it will advise – first the financial return and second the Earth DividendTM”.
1. ECP will act as the investment advisor to the Fund's investment manager.
2. Authorised under the protection of Investors (Bailiwick of Guernsey) Law, 1987 as amended.
3. Growth of renewables markets: The International Energy Association (“IEA”) estimates that cumulative renewable energy investments will equal US$5.5 trillion across all geographies and technologies by 2030 or US$229 billion annually. Source Green Investing (World Economic Forum January 2009).