Solar Ventures seeks EUR 25m in EIB funds for PV investments
Solar power system in Nepal. Author: Engineering for Change. License: Creative Commons, Attribution-ShareAlike 2.0 Generic
The European Investment Bank (EIB) is considering making an equity commitment of about EUR 25 million (USD 28.2m) in a new fund to be created by Italy’s Solar Ventures Srl for the purpose of making solar investments.
The Solar Ventures Fund expects to invest in 15 to 20 solar photovoltaic (PV) projects with an average capacity of between 25 MWp and 30 MWp.
The fund will be targeting investments in primarily ready-to-build developments in countries not part of the Organisation for Economic Cooperation and Development (OECD). It seeks to raise a total of EUR 150 million, EIB says on its website.
The financing proposal is under appraisal since Tuesday, September 1.
Solar Ventures is an Italian company engaged in the generation of power from solar PV plants.