Prime Capital has raised EUR586 million for its sustainable infrastructure fund.
The Prime Green Energy Infrastructure Fund focuses on onshore wind power in Scandinavia with Prime having secured investment projects in Sweden, Finland and Norway. These have increased Prime track record in the infrastructure sector to over 2,000 MW of capacity.
The fund is classified as Article 9 under the EU’s Sustainable Finance Disclosure Regulation (SFDR).
“The launch of the PGEIF has been an important step in the evolution of our Renewable Energy strategy, which we launched 10 years ago,” says Dr Werner Goricki, Prime Capital’s CIO. “We have already started the construction phase for the first three large-scale projects secured for the fund, with a total capacity of 816 MW, and one has already achieved grid connection. With the planned addition of another 3 to 5 projects, we expect the fund to produce 3 TWh of electricity annually, which will supply more than 800,000 households with electricity and save 1.6 million tonnes of CO2. In addition to wind, the fund will also implement related themes, in particular the production of green hydrogen and other carbon-neutral energy sources.”