Renewable interest stokes infrastructure fundraising

Infrastructure has been gaining popularity in recent months, largely due to growing interest in renewable energy. Santander continues to raise its EUR1.5bn infrastructure fund - although neither a date nor a target for a first closing has been set. Smaller players also showing interest in the sector include Spain's Eland Private Equity, which recently launched Eland Energias Renovables III, a EUR30-35m fund designed to invest in projects in the renewable energy sector (page 5). The fund expects to deploy between EUR150-180m (with leverage); building a 25-35MW portfolio.

Meanwhile, 2008 saw several launches of renewable-focused funds. Portugal's Espirito Santo Capital reached the EUR75.5m second closing of Espirito Santo Infrastructure Fund which is designed to invest in general infrastructure projects including renewable energy. Separately, Italy's Cimino Associati Private Equity (Cape) launched Cape Helio, a EUR70m fund to be wholly dedicated to projects in the renewable energy sector that is seeking to invest in up to 250MW of renewable energy projects in Italy.

Southern European players are also looking to invest in Central and Eastern Europe. Taiga Inversiones Eolicas II has been launched by Taiga Mistral as a EUR50m fund for renewable energy projects in the region.

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