Prime Capital AG, an independent alternative asset manager and financial services provider, has received the first Second-Party Opinion on an infrastructure equity fund from Sustainalytics, a global specialist in ESG research, ratings and analysis.
Prime Capital’s planned Green Energy Infrastructure Fund, investing primarily in greenfield onshore wind projects in the Nordics, will support the transition to a low-carbon economy and deliver environmental benefits related to greenhouse gas mitigation. Sustainalytics considers the Fund’s
intended investments to advance UN Sustainable Development Goal 7 – Affordable and Clean Energy.
The planned Fund volume amounts to EUR 500 million and has a net equity IRR target of 8-10 per cent. First close is expected to take place in H1 2020.
Prime Capital’s experienced renewable energy team has already invested in wind, solar PV and hydro assets across even European countries with a combined capacity of approximately 849 MW, of which over 80 per cent in greenfield projects, and an enterprise value of approximately EUR1.1 billion. Based on this proven track record of implementing and managing renewable energy assets, Sustainalytics considers Prime Capital well-placed to also manage the new Green Energy Infrastructure Fund with positive sustainability impacts. Prime Capital has projected
that the Fund’s share of project benefits will result in 3,200 GWh of renewable energy generated per year.
This amount of clean energy will be sufficient to supply 860,000 households, resulting in avoided emissions
of 1,400 tons of CO2.
Dr Mathias Bimberg, Head of Infrastructure, says: “Renewable Energy is a core investment focus of
Prime Capital, and with our intended offering we create a unique opportunity for our investors to both
achieve attractive risk-adjusted returns and generate solid and measurable environmental benefits.”
Andreas Kalusche, CEO of Prime Capital, adds: “We are pleased to announce that our contemplated fund
is the first equity fund to be evaluated by Sustainalytics, a globally recognised provider of ESG research
and ratings. This independent opinion is strongly supporting our clients in the implementation of their ESG
strategies.”
