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Funds: The Renewables Infrastructure Group, Triodos, Ecofin Advisors, Green Arrow Capital

The latest developments in ESG-related funds

Sumitomo Mitsui Banking Corporation, Barclays, and Santander have joined the National Australia Bank, Royal Bank of Scotland International, and ING as lenders to the Renewables Infrastructure Group (known as TRIG) as it secures a three-year term £500m ESG-linked SONIA credit facilities, which will support new investments. The London-listed renewable energy infrastructure investment company will incur a premium, or reduction, to its margin and commitment fee based on performance against defined sustainability targets.

Ecofin Advisors has raised £125m through an IPO for its US renewables offering; this brings the investment company’s fundraising to over £1bn for the year. Ecofin US Renewables Infrastructure Trust secured half the capital it has targeted for the trust, with Capricorn Investment Group subscribing for 22.5 million shares and Ecofin an additional 7.25 million – taking its stake to 8.5 million shares. The company intends to invest in a diversified portfolio of mixed US renewable energy assets, benefiting from government incentives and the availability of fixed longer-term revenue contracts.

Triodos Investment Management is renaming two of its impact funds to more effectively convey the investment approaches used by them. The Triodos Renewables Europe Fund will be renamed the Triodos Energy Transition Europe Fund and will invest in wind farms, solar photovoltaic, and solar thermal installations across Europe. In addition, the Triodos Organic Growth Fund will be renamed to Triodos Food Transition Europe Fund and will invest in the transition towards sustainable consumption and production, providing long-term mission-aligned private capital to leading European organic food and sustainable consumer businesses.

Alternative investment specialist Green Arrow Capital has successfully completed the first closing of the Green Arrow Infrastructure of the Future Fund, which has already collected subscriptions for approximately €140m since it was greenlighted last August. With a target of €500m the asset manager’s fund investments in Italy, which will make up 55% of the offering, will involve the most strategic sectors anticipating the objectives of the European Green Deal towards climate neutrality by 2050.