Cleantech magazine, a Cleantech Investor publication
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Fund launch: Glitnir Green Energy |
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Icelandic investors launch USD 1bn renewables fund
First published in Cleantech magazine, March 2007. Copyright Cleantech Investor Ltd, 2007
Fund & Investors
Icelandic investors FL Group, Glitnir and VGK Hönnun Engineering have set up Glitnir Green Energy, a fund aiming to invest globally in renewable energy projects. The GP’s aim is to reach an investment capacity of USD 1bn. According to the firm, the fund’s management will seek further commitments from both Icelandic and international investors in the coming months. Investment boutique FL Group will act as a cornerstone investor in the fund alongside the two other founding firms. Glitnir’s Corporate Finance Division is managing to process.
Investments
Geysir Green Energy aims to become a leader in investments focused on geothermal sourcing. The value creation strategy for the fund’s portfolio companies will rely on expansion through M&A and the development of new projects. According to the GPs, the reason for focusing on geothermal energy is that it is a highly competitive investment niche, with far lower costs involved in channelling it for final power generation than the costs involved in sources such as solar energy.
People
Ásgeir Margeirsson, formerly a managing director at the Reykjavík Energy Company, is the CEO of Geysir Green Energy. He will pursue the development of the company and manage its investments.
ContactÁsgeir Margeirsson
Geysir Green Energy
+354 844 4564 |
