The SUSI Renewable Energy Fund II has achieved a €380m final closing, including a single investment of more than €100m from a Dutch pension fund.
The Swiss investment adviser said most investors were pension funds and insurers, and that the European Investment Bank had also committed €62m.
The renewables fund, which saw its first close in the spring of 2015, invests in wind and solar projects.
Its €115m portfolio is made up of 14 wind and solar farms in Germany, France, Finland, the UK, Portugal and Italy, delivering a total output of more than 210 MW of clean energy.
SUSI said the holdings were very well diversified technically, as well as geographically.
The funds from final closing will be invested in further solar and wind projects within the coming 30 months.
Otto von Troschke, CIO and co-founder of SUSI Partners, said: “With the successful final closing, the fund can now realise projects amounting to an expected total volume of €1bn, and SUSI further strengthens its position as one of the most active European fund advisers for renewable energy.
“Our strong network resulting from 26 wind and solar transactions provides us with excellent access to attractive projects with reliable partners, allowing the efficient continuation of our diversification strategy.”
SUSI Partners is a socially and ecologically responsible investment adviser, supporting institutions with investments in solar and wind parks, energy efficiency retrofits of existing infrastructure, and energy storage capacity.
The funds it advises on aim to produce stable annual distributions that have a low correlation with traditional asset classes, carry low risk and produce a measurable impact on climate change mitigation.
Its main partner is the Luxembourg fund provider Sustainable SARL.