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International Internet Magazine. Baltic States news & analytics Tuesday, 15.10.2019, 10:05

Lords LB fund attracts EUR 30 mln for solar project in Poland

BC, Vilnius, 12.06.2019.Print version
Atsinaujinancios Energetikos Investicijos (Renewable Energy Investment), a company operated by investment company Lords LB Asset Management's Energy and Infrastructure SME Fund has reached agreement with France's Eiffel Energy Transition Fund on the sale of the company's ordinary debentures worth over 30 mln euros, reported LETA/BNS.

Atsinaujinancios Energetikos Investicijos will use the attracted funds for the construction of 66 solar power plant parks in Poland. Every park will have a capacity of 1MW, and the total capacity will stand at 65.5MW, Lords LB Asset Management said.

"The construction funding has always been the key part of this project. We have held talks with several potential partners and we are glad to have signed a debenture contract with Eiffel Energy Transition Fund. Their experience and achievements in the area of renewable energy will be of considerable value for the development of this solar power plant project," Domas Kacinskas, Energy and Infrastructure SME Fund's manager, was quoted as saying in the statement.

In his words, the company plans to complete the project near Warsaw by the middle of 2020.

Eiffel Energy Transition is a professional investment fund, strictly reserved to institutional investors, with a 10 year lifespan, funded by the European Investment Bank, France's ADEME agency and several European institutional investors. It’s part Eiffel Investment Group which manages an investment portfolio worth 1.3 bn euros.

Energy and Infrastructure SME Fund invests into renewable energy, infrastructure and PPP projects. The fund seeks to attract capital worth up to 70 bn euros.

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