Blackfinch targets core European solar markets in US$ 412m fundraise

• Blackfinch Renewable European Income Trust (BRET) has actually introduced its intent to raise up to ₤ 300 million (US$ 412 million) by means of a float to buy renewable resource projects throughout Europe.

The intent to float, indicated today, will see BRET increase up to ₤ 300 million to buy operational, in-construction as well as construction-ready renewable energy infrastructure assets in core European markets such as Portugal, Italy as well as Poland.

The firm has a seed portfolio of possessions worth around ₤ 232 million which are under option for acquisition, with a more pipeline of assets worth over of ₤ 500 million which are under settlement.

BRET's initial focus gets on financial investments in solar, wind and also hydro assets, with an additional focus on various other properties including in hydrogen, storage space and also central district heating.

Talking about the suggested IPO, Anthony Marsh, chairman at BRET, stated: "Demand for renewable energy in Europe is huge, and there is an essential undersupply," including that the investment company would certainly produce a "portfolio of European renewable resource infrastructure possessions efficient in producing steady lasting cash flows".

Richard Cook, president of Blackfinch Group, added: "Blackfinch has a well-established performance history of investment in the renewable resource market. We anticipate using our experience as well as expertise in our function as financial investment manager and also property supervisor to produce the attractive dividend returns and funding growth that BRET is targeting."

Blackfinch said it believes there is a durable circulation of purchase chances offered throughout Portugal, Italy as well as Poland in particular, as well as the UK, which these countries supply a resource of appealing financial investment opportunities.

For example, Portugal will certainly accomplish its third solar public auction this September, with 500MW of floating PV capability set to be alloted. On the other hand, Poland has actually firmly established itself as the market to look for PV release, as the country discourages itself off coal-generation and intends to acquire 23% of its energy from sustainable sources by 2030.