Earth Capital Partners completes first round for renewable energy mega-fund

London-based green investment firm Earth Capital Partners (ECP) announced this week that it has completed its first round of fund-raising for its planned €750m renewable energy fund.

The company said that it had completed first close on the fund, which will ultimately invest in solar, biogas and biomass projects in Europe, the Middle East and North Africa.

It did not disclose how much had been raised in the initial round, but a spokesman for the company said that it had raised a "solid amount" that provided proof of concept for the new fund and demonstrated that there was investor interest.

The company said that it would now aim to raise up to €750m with a view to undertaking final close on the fund in November next year.

"The Fund provides a vehicle for institutional investors to engage in infrastructure energy projects which move us towards a low carbon economy," said Ben Cotton, Partner of ECP "We expect to bring electricity online from renewable sources within the next 12 months."

The news comes just weeks after ECP announced that it had inked a partnership with energy giant E.ON's renewable division that will see the company provide support for ECP's project development, operation and maintenance activities, as well as potentially contributing to the fund’s investment opportunities.