BackMarguerite, EIB Channel Funds to Wind, Solar PV
Industry Development
On 9 January 2012, the Marguerite Fund announced that it would acquire approximately 31% of France’s largest solar park, the 115 MW Toul-Rosieres project, from EDF. In December 2011, the investment fund acquired 9% of Belgium’s largest offshore project, the 326 MW Thornton Bank park, also from EDF. The Marguerite Fund—or 2020 European Fund for Energy, Climate Change and Infrastructure—is backed by six core sponsors contributing €100 million each. These include public lending institutions from France, Germany, Spain, Italy, and Poland, as well as the European Investment Bank (EIB). In addition, the European Commission, Bank of Valletta (Malta), and Caixa Geral de Depósitos (Portugal) have committed €110 million for a total of €710 million. The fund’s final target for 2012 is €1.5 billion and will prioritize renewable energy (35-45%) for equity investment. The six sponsors along with other institutions have also set up a €5 billion debt facility.
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