Chorus Clean obtains EUR 25m for European solar, wind portfolio

German solar and wind parks operator Chorus Clean Energy AG (FRA:CU1) said on Monday it has received EUR 25 million (USD 28.4m) of equity capital from two local pension funds to build up a portfolio of European plants.

The company will invest the funds in photovoltaic (PV) and wind parks in several European countries. Upon completion, it will provide operation and asset management services for the facilities. It did not give more details about the cooperation with the two unnamed pension funds.

Earlier this month, Chorus Clean Energy raised about EUR 100 million from its initial public offering (IPO) in Frankfurt. The company said previously it planned to use the net proceeds from the listing to realise its growth plans, finance more solar and wind farms, and broaden its service portfolio in the field of asset management.

At present, Chorus Clean Energy operates over 250 MW of solar and wind power plants in Germany, Italy, France, Austria and Finland. In recent years, it has invested a total of EUR 673 million in 67 projects.

(EUR 1.0 = USD 1.136)

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