On 4 June Banque des Territoires contributed €30mn to the first €162mn funbd raising of the Pearl Infrastructure Capital fund. The fund, which has been awarded the Greenfin* label, will invest in projects related to water, waste management and renewable energy production.
he creation of Pearl Infrastructure meets the growing funding needs of industrialists and local authorities in order to modernise obsolete infrastructure and bring them into compliance with the ever-increasing European regulatory restrictions in the environmental sector.
For this reason, and through this fund, the Caisse des Dépôts’ Banque des Territoires has sought to improve its capacity to act in favour of energy and ecological transition in the water sector, the waste management and recycling sector and in the renewable energy sector, in addition to its direct investments.
Pearl Infrastructure targets 12 to 15 assets representing investments of €15mn to €40mn, in project companies mainly centred around these three topics, as well as mainly greenfield (new) assets but also early brownfield (recently commissioned) assets based on mature technology.
Banque des Territoires has subscribed to the fund alongside the European Investment Bank (EIB), other French and European institutional investors and the Edmond de Rothschild Group. Pearl Infrastructure is aiming for a total commitment of €250mn raised by the end of 2019.
Pearl Infrastructure cible 12 à 15 actifs représentant des investissements de 15 à 40 M€, dans des sociétés de projets axées principalement sur ces trois thématiques, et des actifs principalement greenfield (nouveaux) mais aussi early brownfield (mis en service récemment) basés sur des technologies matures.
* Since 12 June, this certification has replaced TEEC certification (Ecological and Energy transition for the Climate). Novethic is one of the organisations accredited to issue Greenfin certification.