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BNP Paribas Exceeds Capital-Raising Target for Clean Power Fund
2010-12-06 10:55:54.254 GMT
By Ben Sills
Dec. 6 (Bloomberg) -- BNP Paribas Clean Energy Partners GP
raised 437 million euros ($581 million) from insurers and
pension funds, exceeding the target it set for investing in
renewable-power infrastructure.
The London-based fund, which counts BNP Paribas Investment
Partners among its investors, will target onshore wind farms,
photovoltaic power plants and small hydro and biomass generators
with secure cash flows, the company said today in a statement.
The fund aimed to raise 350 million euros.
"Investors have recognized 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," Joost Bergsma, chief executive
officer of BNP Paribas Clean Energy Partners, said in the e-
mailed statement.
The fund raised 250 million euros in a round that ended in
September 2009 and 187 million euros in its most recent appeal
to investors, bringing the total to 437 million euros.
The fund, which owns stakes in an Italian solar-energy
array as well as wind farms in France and Ireland, aims to earn
15 percent annual returns, Bergsma said in October. It borrowed
93.5 million euros that month to build a 30-megawatt
photovoltaic plant near Rome.
For Related News and Information:
Renewable-energy markets: RENE <GO>
Top green energy news: GREEN <GO>
Levelized cost of energy: LCOE <GO>
Most-read solar stories: MNI SOLAR <GO>
--Editors: Todd White, Randall Hackley
To contact the reporter on this story:
Ben Sills in Madrid at +34-91-700-9603 or bsills@bloomberg.net
To contact the editor responsible for this story:
Reed Landberg at +44-20-7330-7862 or landberg@bloomberg.net
