2024-11-25
http://w3.windfair.us/wind-energy/news/855-austrailia-investec-invests-30m-on-wind-farm

Austrailia - Investec invests $30m on wind farm

Unlisted investment bank Investec on the prowl for more clean energy projects worldwide

Unlisted investment bank Investec Bank Australia Ltd is on the prowl for more clean energy projects worldwide, after snaring a major stake in Scotland's Ardrossan Wind Farm. Investec joined Melbourne-based Viridis Energy Capital to pay $30 million for the 49 per cent equity stake in the cash-generating wind farm, the two companies' first investment together. But Investec power specialist Mark Schneider said the companies wanted to invest $100 million in clean energy projects within a year, and ultimately $500 million.

"We've got a whole lot of irons in the fire at the moment," he said. He said Investec was examining possible investments in Australia and Europe, although nothing was finalised. The company was also interested in opportunities in North America. Projects would need to be operational, have stable cash returns over the long term and fall into one of five clean power categories: wind, "small hydroelectrics", gas produced from landfill, energy based on green waste and geothermal power. Europe, Mr Schneider said, but most capital would come from Australia.

Mr Schneider said Investec was considering an initial public offer of its clean energy joint venture - Viridis Clean Energy Group - although the timing was unclear. ’We are certainly considering an IPO at the right time, but that's somewhere down the track," he said. Asked whether a share market listing could be a year away, he replied, "It could be sooner than that".
Source:
Online editorial www.windfair.net
Author:
Trevor Sievert, Online Editorial Journalist
Email:
press@windfair.net
Keywords:
Austrailia, Investec, wind energy, wind turbine




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