• Fund will deliver positive environmental benefits based on the principles of impact and transparency
• Proven track record of implementing and managing renewable energy assets, across 7 European countries
• First close of the planned Fund expected in H1 2020, net equity IRR target of 8 – 10%
• Clean energy for 860,000 households, resulting in avoided emissions of 1,400 tons of CO2
Frankfurt, 10. December 2019
Prime Capital AG, an independent alternative asset manager and financial services provider, received the first Second-Party Opinion on an infrastructure equity fund from Sustainalytics, a global leader in ESG research, ratings and analysis. Prime Capital’s planned Green Energy Infrastructure Fund, investing primarily in greenfield onshore wind projects in the Nordics, will support the transition to a low-carbon economy and deliver environmental benefits related to greenhouse gas mitigation. Sustainalytics considers the Fund’s intended investments to advance UN Sustainable Development Goal 7 – Affordable and Clean Energy. The planned Fund volume amounts to EUR 500 million and has a net equity IRR target of 8 – 10%. First close is expected to take place in H1 2020.
Prime Capital’s experienced renewable energy team has already invested in wind, solar PV and hydro assets across 7 European countries with a combined capacity of approx. 849 MW, of which over 80% in greenfield projects, and an enterprise value of approx. EUR 1.1bn. Based on this proven track record of implementing and managing renewable energy assets, Sustainalytics considers Prime Capital well-placed to also manage the new Green Energy Infrastructure Fund with positive sustainability impacts. Prime Capital has projected that the Fund’s share of project benefits will result in 3,200 GWh of renewable energy generated per year. This amount of clean energy will be sufficient to supply 860,000 households, resulting in avoided emissions of 1,400,000 tons of CO2.
Dr. Mathias Bimberg, Head of Infrastructure, commented: “Renewable Energy is a core investment focus of Prime Capital, and with our intended offering we create a unique opportunity for our investors to both achieve attractive risk-adjusted returns and generate solid and measurable environmental benefits.”
Andreas Kalusche, CEO of Prime Capital, added: “We are pleased to announce that our contemplated fund is the first equity fund to be evaluated by Sustainalytics, a globally recognized provider of ESG research and ratings. This independent opinion is strongly supporting our clients in the implementation of their ESG strategies.”
About Prime Capital:
Prime Capital AG is an independent asset management firm and financial services provider, focusing on institutional clients. The company specializes in Alternative Investments, in particular in Absolute Return, Infrastructure Investments and Private Debt. Furthermore, the company offers Asset Management Outsourcing and Access Solutions. Prime Capital was founded in 2006, currently employs more than 80 people in Frankfurt, Luxembourg and London and is regulated by BaFin and CSSF.
As of September 2019, Prime Capital has approximately EUR 15.3 bn Assets under Management, managed and administered.
For additional information, quotes or requests please contact:
Prime Capital AG
Tel: 0049 69 9686 984 35