http://www.newenergyworldnetwork.com/renewable-energy-news/by-technology/solar-by-technology-renewable-energy-news/triple-point-investment-launches-100m-fund-to-target-uk-solar-market.html

Triple Point Investment Management has launched an income fund that will target the UK solar sector and is seeking to raise £100m from institutional and high-net worth investors.

The Solar Income Fund is designed to provide long-term cash flows by acquiring a portfolio of renewable energy assets.
It is the first of its kind to invest in the UK and will target assets using solar photovoltaic (PV) equipment to generate electricity.
Capped at £100m, the Solar Income Fund will be available to both retail and institutional investors with an initial offer period that runs until the end of December. The minimum subscription to the closed-ended fund is £10,000, which is just beneath the £10,200 Individual Savings Account (ISA) limit.
Triple Point said the UK feed-in tariff regime introduced in April has enhanced the security of expected returns from renewable energy infrastructure.
‘The erosion of savings is driving investors to seek greater protection against inflation,’ said Ian McLennan, manager of the Solar Income Fund.
‘There is a window of opportunity now brought about by the combination of UK legislation, the current low cost of solar PV equipment, and poor savings rates available on cash. Stability is much sought after and as the fund is eligible for ISAs, self invested personal pensions and insurance bonds, this presents a new opportunity for investors to secure a stable income and inflation protection.’
The returns of the fund will be generated by establishing a portfolio of solar PV installations that will generate electricity consumed by the owner of the site or fed into the National Grid.
‘UK solar PV is expected to grow rapidly in the next two years as public and private sector organisations are incentivised to improve energy efficiency. This is a growth market but also one that has a long investment horizon, as the majority of investments have a 25-year term,’ said McLennan.
The fund will be co-managed by McLennan, who has led Triple Point’s renewable energy forum for two years, and James Cranmer, who has 16 years experience in asset finance and currently directs Triple Point’s origination process.
Peter Ainsworth will act as environmental policy adviser for the fund, who combines 15 years of experience in investment banking with 18 years of senior level experience in politics, specialising in environmental policy.
Triple Point is a specialist investment management boutique founded in 2004.