Axis, the private equity subsidiary of ICO Group, has closed an investment commitment of EUR30 million in Everwood Renewables Europe V FCR, a fund managed by Everwood Capital, which main objective is to develop, build, and operate a portfolio of new renewable projects, mainly photovoltaic plants.
The investment was made through Fond-ICO Infraestructuras, a vehicle aimed at investing in sustainable infrastructure. The investment strategy of Everwood Fund V is fully aligned with the objectives of this vehicle as the Fund is one of the first Spanish funds to be classified under Art. 9 of the Sustainable Finance Disclosure Regulation (SFDR). This classification implies that the investments of Everwood Fund V will not only contribute to the reduction of CO2 emissions but will also not affect negatively to other objectives of the European Taxonomy.
With ICO’s investment, together with the recently closed commitment of the European Investment Fund (EIF) for EUR50 million, Everwood Fondo V reaches EUR270 million in Committed Capital, and expects to reach its target of EUR500 million by 2022.
