London-based private equity fund manager Platina Partners has launched Energy Renewables Ltd, a new asset management company to oversee the development, construction, financial management and operation of its renewable energy funds.
The subsidiary has been formed following the merger of Your Energy Services, a renewables company under the control of Platina, and renewable energy consultancy BVG Associates. Patrick Geraets will be technical director of ERL and will lead a team of 12 working in the new management company.
It will initially manage Platina’s portfolio of more than 1000 MW of renewable energy schemes which span the UK, Spain, Greece, Italy and Cyprus. Platina is set to have a further 20 MW of renewable energy production in the UK go live later this month.
Platina launches new
Geraets said of the launch of the new company: “Platina has clearly established itself as a long term investor in the renewable energy market and having worked with them over the last four years, this is a very exciting opportunity to grow both the team and the delivery capabilities. Platina has recognised the need for a high quality engineering team to ensure delivery of its global project portfolio and with over 90 years experience in the renewable energy sector, ERL can offer the expert skills in technology and project management that are required to deliver higher returns to investors.”
Platina currently has more than €270 million dedicated to the renewable energy sector.