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ABP/PGGM energy fund invests in Italian sun

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NETHERALNDS - The €320m Ampère Equity Fund, a sustainable energy investment fund set up by Dutch pension funds ABP and PFZW, will hold a 49% stake in new solar energy project in Italy.

The project, based in Apulia region of Southern Italy, will see the construction of seven solar-energy parks, which are expected to be in operation by 2010.

The remaining 51% are owned by Econcern, which today announced it has invested €200m into the project, named Project Trullo.

The Ampère Equity Fund was launched in late 2007 with the aim of investing up to €500m in dozens of sustainable energy projects, to include onshore and offshore wind farms and biomass power stations in various Western European countries.

All projects financed by the fund are expected to generate both a long-term predictable cash flow and an attractive yield on investment.

The largest part of the committed capital will be invested in projects developed by Evelop, a business unit of Econcern.

Besides APG, PGGM (PFZW's asset manager), also Delta Loyd invests in the fund. Triodos Investment Management is the independent fund manager.

If you have any comments you would like to add to this or any other story, contact Carolyn Bandel on +44 (0)20 7261 4622 or email carolyn.bandel@ipe.com

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