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The EnerCap Power Fund I, a private equity fund focusing on investments in renewable energy projects in Central and Eastern Europe, announced on April 15th that two funds managed or advised by RobecoSAM Private Equity have replaced an existing investor in the fund.
Alastair Hammond, partner and COO at EnerCap Capital Partners, said:
"We're delighted to welcome the RobecoSAM associated entities as limited partners in the EnerCap Power Fund. Since the Fund's closing in 2007, the EnerCap team has worked hard to acquire, finance and construct a portfolio of high quality clean energy projects and we're pleased to have attracted such an established global infrastructure investor as RobecoSAM Private Equity."
During the same week, the EnerCap Power Fund erected the final wind turbine at its 42MW Obrovac windfarm. Located near to Zadar on the coast of Croatia and with a first phase comprised of fourteen Vestas 3.0 MW turbines, the Obrovac project achieved financial close in June 2013 and immediately started construction. Project financing for the windfarm is provided jointly by UniCredit Bank Austria and Erste Group Bank who benefit from a guarantee provided by EKF, Denmark's export credit agency.
EnerCap Capital Partners, based in Prague, manages the EnerCap Power Fund I and is currently at an advanced stage of fundraising for its next fund, the €350 million Exergy Efficient Energy Fund, which will focus on high efficiency cogeneration projects in the CEE region.
EnerCap Capital Partners has a dedicated management team is based in Prague, Czech Republic and has fourteen partners and investment executives.
EnerCap Capital Partners is currently reviewing exit strategies for the EnerCap Power Fund's portfolio of investments. The fund is almost fully invested
EnerCap Power Fund L.P. I is a € 98 million, ten-year Renewable Energy Fund for the region. The fund consists of two parallel Qualifying Investor Funds authorized by the Guernsey Financial Services Commission. The fund seeks to achieve significant capital appreciation from a diverse portfolio of renewable energy investments in the Central and Eastern Europe region and has invested in wind, solar PV, and cogeneration projects in the Czech Republic, Poland, Romania, Slovakia and Croatia.
RobecoSAM Private Equity is based out of both RobecoSAM, the investment specialist focused exclusively on Sustainability Investing, in Zurich and Robeco, in Rotterdam. RobecoSAM Private Equity offers core and satellite investment capabilities with a focus on mainstream and resource efficiency to institutional investors.