Saturday, 20 December 2014
Last updated 13 hours ago
Aug 30 2012 | 3:44am ET
An Irish renewable-energy hedge fund has taken a quarter of its capital to buy solar-power farms in sunnier climes.
Clear Financial's Solar21 Renewable Energy Ireland fund paid €25 million for the southern Italian farms, buying them from AEG Power Solutions. The new acquisitions join a portfolio of other solar farms, primarily in Germany and Italy.
Solar21 and AEG have been working on the deal since April. The hedge fund is also in advanced talks about buying another 12 megawatts valued at more than €45 million.
"When you contrast this stable investment environment with the current equity market volatility which has proven to be all risk and little return over the past 10 years, it's not difficult to see why so many people are drawn to the renewable energy concept," Solar21 CO Michael Bradley said.
Solar21 has €100 million in assets and targets 8.5% annual returns.
Dec 1 2014 | 10:21am ET
As 2014 winds down, Northern Trust Hedge Fund Services executives took some time to share their outlook on trends facing the industry in 2015. Read more…
Jeff Sprecher was simply looking for a platform to trade energies when launching ICE 14 years ago but it has grown to reach the pinnacle of both the listed futures and equities world.