Berkeley raises €51m for Asian renewable energy

The renewable energy infrastructure-focused private equity firm will invest its Renewable Energy Asia Fund in wind, small hydro, biomass and solar power opportunities.

Berkeley Energy, a UK private equity firm that focuses on renewable energy infrastructure investments, has raised €50.7 million for an Asian renewable energy fund, the firm said in a statement.

The Renewable Energy Asia Fund will back renewable energy projects in India and other developing countries in Asia. It will make equity investments between €5 million and €15 million in size in development-stage renewable energy projects and technology, focusing on wind, small hydro, biomass and solar power opportunities.

The fund’s six backers include UK development finance group CDC, which committed €10 million to the fund.

Berkeley was founded in 2007 by clean energy industry veterans TC Kundi, Robert Renfrew, Jeremy Smith along with Freshfields private equity lawyer Alastair Vere Nicoll. The firm is based in London.