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Cleantech magazine, a Cleantech Investor publication

Cleantech Funds

VC/PE - Generation Investment Management: closing on $683m

Generation Investment Management has closed the Climate Solutions Fund at $683 million.

First published in Cleantech magazine, May 2008. Copyright Cleantech Investor 2008

Fund launch: Glitnir Green Energy

Icelandic investors launch USD 1bn renewables fund First published in Cleantech magazine, March 2007. Copyright Cleantech Investor Ltd, 2007
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VC: Good Energies - divestment by Continental Wind Partners

First published in Cleantech magazine, September 2008. Copyright Cleantech Investor 2008

Portfolio company: Continental Wind Partners
Sale value: €1.1bn
Renewable power developer Continental Wind Partners has sold two wind farm developments in Romania to Czech Government-owned power utility CEZ Group for €1.1 billion.
It is understood that Continental, owned by cleantech fund Good Energies, decided to sell the businesses due to the expiry in 2012 of the Green Certificate regime in Romania, which requires energy vendors to buy ‘green certificates’ from renewable energy producers. Such regimes last for twelve years and, since there were only four years left until the expiry of the current scheme, it was said that Continental was unable to secure debt financing for the project and so proceeded to sell the developments.