The green energy investment arm of French banking group BNP Paribas has closed a fund targeting investments in clean energy infrastructure on €437m.
The fund attracted investment from institutional investors in the Netherlands, Belgium, Germany, UK, Sweden, Asia and Japan, breaking BNP’s original €400m target
“We are delighted with the backing we have received from investors for our fund. Investors have recognised that the outlook for clean energy in Europe is positive, offering good potential for growth and that our team has access to a deep pipeline of attractive investment opportunities,” said BNP Paribas Clean Energy Partners CEO Joost Bergsma.
The fund is to target assets with underwritten cash flows and the potential for capital enhancement during their lifespans, with a focus on the onshore wind, small-scale hydro, solar photovoltaic and biomass sectors. The fund has already made a number of investments in Italian solar power and French and Irish wind farms
Nicolas Ribes, Head of alternative sales at parent division BNP Paribas Investment Partners said: “Within their alternative asset portfolios, investors are looking to deepen their allocations to clean energy infrastructure. They have assessed the strength of our team and are seeking to benefit from the expected stream of income that our fund’s strategy is geared to offer.”
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