Taiga launches EUR50m renewables fund

01 February 2009

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Fund

Taiga Mistral has launched its second fund, targeting EUR50m for investments in the in renewable energy sector in Eastern Europe. Minimum commitments are set at EUR300,000 although the GPs remain flexible on this issue. Management fees are at the normal 2% with a 1% closing fee. Banco Urquijo, a subsidiary of Banco Sabadell, acts as placement agent.

Investors

Taiga Inversiones Eolicas I has the support of major institutional investors, among which are Banco Santander, savings banks Caja Navarra and Caja Avila, as well as some Spanish family offices.

Investments

While the first fund focused on Poland, the second seeks to invest in Bulgaria and Romania as well as other Central European countries. The vehicle plans to invests between EUR2-9m to acquire stakes in small- to medium-sized wind farm projects (up to 50MW), with the aim of reaching 125-150 MW.

People

Grupo Taiga began its activities in 2007 with the launch of Taiga Inversiones Eolicas I, a EUR75m fund focused on wind projects in Poland. The new vehicle will be managed by Marta Fernandez, formerly of Gamesa. The firm will now have an investment capacity of EUR400m, aiming to invest in wind energy assets through its three in situ teams.

Name: Taiga Inversiones Eolicas II

Launched: November 2008

Target: EUR50-60m

Focus: Wind farms

Central and Eastern Europe

Contact: Javier Aguilar

Address: Camino de la Zarzuela, 1 - 1a

28023 Aravaca Madrid

Spain

Tel: +34 (91) 3576310

Fax: +34 (91) 3579941

Advisers