Sep 19, 2011 - The European Bank for Reconstruction and Development (EBRD) last week announced the setting-up of an energy equity fund focused on clean energy projects in Turkey and countries in the western Balkans and the Caucasus.
The EBRD is contributing EUR 40 million (USD 54.7m) equity to set up the Clean Energy Transition Fund (CETF) with a target size of EUR 200 million.
The fund will invest in hydro, wind, geothermal, biomass and solar power projects, and will also finance clean generation, energy efficiency equipment and service suppliers. It will pursue 10-15 equity investments with individual investment of EUR 5 million to EUR 30 million. At least 70% of its activity will be in Turkey, with the remaining 30% in the western Balkans and the Caucasus.
EBRD added that its energy investments in efficiency and climate change projects reached EUR 1.2 billion in the first half of the year, rising 50% from the same period of 2010.