Platina Finance announces EUR75m second close

Fund

Platina Finance Ltd has announced a EUR75m second close of European Renewable Energy Fund 1 LP (EREF), its fourth fund. The fund, which was launched in October 2007, has a target of EUR250-300m, which it hopes to raise by the end of 2008. Platina also announced the finalisation of terms with NORD/LB bank of Germany to provide EUR150m of non-recourse debt and associated financing for a portfolio of UK wind farm projects.

Investors

The majority of the investments have come from Platina's historic and existing investors. In addition two new investors have backed EREF.

Investments

The fund will focus on European businesses that own renewable energy assets with a focus on wind-based renewable energy. Platina plan to invest between EUR15-30m per project, financing companies from as early as their development phase.

People

Thomas Rottner is the managing director at Platina Finance, while Emma Collins, Alexander Labouret, Joseph Muthu and Mikael Scholtz are investment directors at Platina Finance.

Name

European Renewable Energy Fund 1

Second close

EUR75m

Focus

Renewable energy generation

Contact

Thomas Rottner

Address

40 George Street

W1U 7DW

London

UK

Tel: +44 20 7467 3190

Fax: +44 20 7467 3195.

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