The fund is one of three new renewable energy funds launched by Quercus, a UK-based fund managers. The Quercus Italian Wind fund will invest in existing project in Italy with a view of building a 300MW portfolio by 2017.
The fund will be a minimum 10-year investment with a targeted Internal Rate of Return of 9-11% a year, according to Quercus.
Italy has stable renewable energy incentives, the firm said, and renewable energy sources are given grid priority.
A total of 8.8GW of wind capacity is already installed, according to Windpower Intelligence, the research and data division of Windpower Monthly.
The country is expected to install 300-400MW of new wind capacity in 2015 as a number of projects assigned a feed-in-tariff (FIT) through the auction process in recent years finally reach the construction stage.
The Quercus Italian PV fund — to the same value, but with a return of 8-10% — was launched at the same time as the wind fund, and the Quercus European Renewables Fund was launched earlier this year.