UNQUOTE

UK/FRANCE - Platina announces EUR 75m close of fourth fund

  • Ashley Wassall
  • LinkedIn  
  • Google plus  

Platina Finance Ltd has announced an intermediary close of its fourth fund, the European Renewable Energy Fund 1 LP (EREF), on EUR 75m. The fund was launched in October 2007 and is targeting a final close of EUR 250m by the end of 2008.

Commitments have come largely from Platina's existing investors, though EREF has also been backed by two new investors. The fund will focus on businesses that own renewable energy generation assets in order to aggregate between 500MW and 700MW of electrical generation capacity, with EUR 30m expected to be reserved to secure and finance a pipeline of products still in their development phase in order to boost returns.

Coinciding with this fund closure is the announcement that Platina has finalised terms with NORD/LB bank of Germany to provide EUR 150m of non-recourse debt and associated financing facilities for a 100MW portfolio of UK wind farm projects.

  • LinkedIn  
  • Google plus  

More on Buyout

Latest News