Earth Capital Partners has completed the first close of its renewable energy infrastructure fund, ECP Renewable Energy Fund One, targeting up to EUR750m of investment.
The fund will invest in solar, biogas and biomass projects in Europe, the Middle East and North Africa.
Earth Capital has recently appointed E.ON Climate & Renewables to play a key role as the fund’s primary industrial service provider, providing technical skills and industrial experience, particularly in project development, operation and maintenance of assets, as well as potentially contributing to the fund’s investment opportunities.
Ben Cotton, partner of Earth Capital, says: “The fund provides a vehicle for institutional investors to engage in infrastructure energy projects which move us towards a low carbon economy. Reaching first close for this fund is proof of concept of the ECP model, and we expect to bring electricity online from renewable sources within the next 12 months.”
Final close of the fund is expected to take place by the end of November 2010.
