Omnes, which is the former private equity arm of Crédit Agricole, is also planning to put a further €10m into the business.
Milan-based Futuris develops, builds and manages biomass-fired cogeneration plants. The investment from Omnes will finance the second stage of its development plan.
The company aims to develop the equivalent of 54MW of installed capacity between now and 2016, for a total investment of €220m.
The development plan involves the construction of ten power stations in three stages. Three power stations are already in operations and three more have already received the necessary approvals.
Serge Savasta, head of renewable energy at Omnes Capital, said, “We were attracted by the pro-active attitude of the people at Futuris S.A., [founder] Rodolfo Danielli’s strategic vision and the high quality portfolio of projects developed by the company.
“We are pleased to be able to work with the company in carrying out its ambitious development plan.”
A month ago Omnes backed the MBO of marine and transport insurance broker Groupe Eyssautier.
Copyright © 2013 AltAssets