CAPITAL FOR INVESTMENT IN CENTRAL AND EASTERN EUROPE

00:00:00 03.11.2014
    Fund closes deal to invest up to $84 m in three Polish wind projects.

     

    CEE Equity Partners, advisor to the China CEE Investment Co-operation Fund, announces the completion of the first phase of an equity investment of up to USD 84 million in three Polish wind projects.

    The Fund has formed a joint venture with Enlight Renewable Energy Ltd, a company quoted on the Tel Aviv stock exchange that develops and invests in renewable energy projects. Together the Fund and Enlight will invest in up to 250 MW of wind projects that are being developed by GEO Renewables, a private Polish company.   

    This deal was the second to be closed for the China-CEE Fund, which was launched at the beginning of 2014.  The Fund has an initial USD 500 million to invest in the CEE region over the next 2-3 years focusing on infrastructure, including energy and telecommunications, and specialist manufacturing. The typical holding period for the Fund’s investments is 7 years.

    The Fund’s has completed an initial investment to become, with Enlight, a majority shareholder in an operational 36MW wind farm in Wroblew. The Fund will invest a further USD 50 million in a second wind project of 100 MW on which construction is expected to start in 2015. The Fund may also invest up to USD 25 million in a third 70 MW project in Poland during 2015.  

    The committed element of this investment brings the Fund’s total commitments to USD 136 million so far this year.

    CEE Equity Partners selected these projects for three key reasons:

    • Partners with a strong track record of previous successful developments;
    • Excellent wind characteristics, 40% greater than average in Poland;
    • Low CAPEX per MW compared to other energy projects available in Poland.


    CEE Equity Partners and China-CEE Fund

    CEE Equity Partners is the Investment Advisor for the China-CEE Fund, which has capital invested by the Export-Import Bank of China as well as CEE Institutions.

    CEE Equity Partners is looking for further investments opportunities in the entire CEE region typically requiring USD 25-75m of equity with larger transactions also financed with partners or with bank debt. CEE Equity Partners’ team comprises expert investment professionals with a long track record in similar projects in the region and with wide experience in co-operative development of portfolio investments.

    About GEO Renewables and Enlight Renewable Energy

    GEO Renewables is the largest independent wind power developer in Poland. It has already successfully constructed 1.2 GW of wind projects. It is owned by Management together with EnerCap Power Fund I, which has EBRD and EIB as anchor investors.

    Enlight is an international player in the renewable energy sector with over 1 GW of assets (140 MW operational and approximately 1 GW under development). It has a market capitalization of USD 80 million, and its majority shareholder is Eurocom Group, Israel's largest privately-owned holdings company.

     

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