Earth Capital Partners LLP, a U.K. investment manager, is working with a major investor to channel about 300 million euros ($406 million) into energy projects.
The money will be used to pay for equity in clean power and efficiency projects, while ECP is talking with other investors and lenders about bringing total funding to as much as 1 billion euros, Ben Cotton, a partner, said in an interview. He declined to identify the investor that has committed funds so far.
ECP is studying investing in seven to eight onshore wind, waste-to-energy and solar projects, Cotton said in London. It aims to unveil deals within two to three months, with decisions based on equipment and installation costs and speed of set up.
“The overriding consideration now is what income stream we can get off the operating asset and how dependable that income stream is,” Cotton said. “Like most people we’ve had significant upsets and shocks in dealing with some European governments who have changed tariffs.”
Demand for energy and curbing waste offers reliable income from waste-to-energy projects, he said.
For the future, ECP is looking at places where high power costs mean renewable energy reduces charges for communities.
Favored are South America, Europe, the Middle East, Africa and some parts of Asia, Cotton said. “There is such a screaming need and screamingly obvious correlation between energy generation and development in Africa,” he said.