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New investors make renewables fund Europe's biggest
1 February 2007
Investment company HgCapital, based in the UK, has raised EUR 300 million in what it claims to be the largest dedicated European renewable investment fund to date. The money will go to support EUR 1.3 billion of renewables, or more than 1000 MW of wind if it all went into wind projects. HgCapital says that investors in the fund include some of the world's leading institutions. It invests in projects from the development stage through to operation in wind, biomass, landfill gas, waste, hydro, geothermal and solar. HgCapital has made five investments to date totalling 500 MW including wind farms in north Wales, Ireland and northern France and in UK developer Wind Direct. It also has a pipeline of projects across different renewables sectors, including options on over 200 MW of wind farms under development in Italy.
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