German private equity investor Odewald & Compagnie has submitted an application to receive funding from the European Investment Bank (EIB) for its first investment fund focusing on renewables assets, Odewald Infrastructure Fund I.
The size of the requested funding has not been revealed. The board of the EIB is analyzing the investment and will publish its decision soon.
The fund will invest in small and mid-size projects renewable energy projects mainly in Europe. The assets will include onshore wind, solar photovoltaics and small hydro projects.
Odewald is an independent and partner-managed private equity group focusing on high-growth, medium-sized companies in Germany, Austria and Switzerland.
The company has a track record dating back some 15 years, and more than €1 billion of invested equity. Odewald usually invests in profitable companies which exhibit strong potential, operate successfully both nationally and internationally, and are aiming to establish or expand leading market positions.