Aviva Investors, the ivestment arm of the U.K. insurance company Aviva plc, plans to create a 500 million EUR (US$625 million) fund to invest in European cleantech companies.
Alain Dromer, Chief Executive, Aviva Investor, announced the creation of the fund at the TBLI (Triple Bottom Line Investment) conference on sustainable investment in Amsterdam.
He said the fund portfolio will include solar photovoltaic, geothermal, biomass, biogas and wind assets. The geographic focus will be across the European Union, primarily in the more mature markets but also in member countries which have relatively immature renewable energy production capabilities.
The projects will be managed by German investment specialists SachsenFonds Group, which developed one of the world’s largest solar energy farms in Brandis, Germany. SachsenFonds has more than €300m of renewable energy projects under management and an eight year track record in the renewable energy sector.
Investment rounds are expected to be 30 million to 75 million EUR.
Loading...