Dutch province launches cleantech fund

The fund currently holds €250m and the province hopes to feed from it a total of €1.5bn in investments, including leverage.

The province in the north-east of the Netherlands will focus its investments on sustainable energy, such as solar power, ground-energy and biomass. By 2020, Overijssel wants to retrieve approximately 20% of its energy from renewable sources.

Investments
The fund will seek to invest in businesses operating in the cleantech sector, focusing on innovation technology, and companies that cannot secure funding through traditional credit institutions. €100m will be invested in energy-saving in the construction sector, while €150m has been reserved for energy-sourcing. Investment activities will start in Spring 2012.

Investors
The Overijssel province is the sole investor in the fund. 

People
The fund manager has not yet been appointed. However, a pan-European call for tender of the role is starting this week. 

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