Global Solar Income Fund launches first clean-tech fund: targets France

31 Oct 2013

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Global Solar Income Funds plc, a fund that is the result of the amalgamation of Irish-born fund Amarenco Solar Ltd, has launched its first fund to the market. It will invest in operational solar assets in France, which are supported by 20-year contracts with the A+ rated Electricité de France.

Former Bord na Móna chief executive John Mullins, now chief executive of Amarenco Solar, said the fund would have a target return of 10.5pc over 10 years with an annual yield payment to investors of 8pc based on physical asset investment in France.

"We believe that the annual yield of 8pc and target return of 10.5pc will be attractive to resident and non-resident investors."

The fund will own assets in France which will be managed by a team of Irish and French experts in renewables and energy assets, he said.

The Global Income Solar Fund has been authorised by the Central Bank of Ireland as a Qualifying Investor Fund.

Now, the fund will now apply for listing on the Irish Stock Exchange.

The fund will be available through Davy Select and independent brokers across Ireland.

As for Amarenco, it is a new investment adviser in Independent Global Solar PV Projects. The goal is to leverage the knowledge and extensive experience of its founding members and partners in solar PV infrastructure project management, financial engineering, and asset management.

Amarenco will be specialising in long-term financing and management of solar PV infrastructure assets.

Amarenco’s financial adviser is KPMG and its legal adviser is Arthur Cox.

Solar panels image via Shutterstock

Carmel was a long-time reporter with Siliconrepublic.com

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