Green venture capital fund plans to make long-term plays
Sunday 28 June 2009
Barry Williams, the co-founder of the Secondary Market Infrastructure Fund (SMIF), is forming a new renewable energy business to invest in a range of projects from solar power in Italy to biomass generation in the UK.
Aleltho Energy, of which Mr Williams is chief executive, has access to £75m from cornerstone funders and is looking for another £100m from asset investors by the end of the year. Mr Williams is joined by chairman Perry Noble, the former co-head head of the global finance practice at law firm Freshfields.
Aleltho will invest up to £30m in any one renewable energy asset. Unlike more short-term venture capital-type backing, Aleltho will typically invest for 10 or more years.
Mr Williams is identifying solar projects in Spain and Italy, as well as waste and biomass energy schemes predominantly in the UK.
"The first investment will be made, judging conservatively, in October this year," Mr Williams said. ""We have signed one arrangement and are considering £150m of opportunities."
SMIF was bought by Trillium, then part of the Ftse-100 property giant Land Securities, in 2007. Trillium was sold to Telereal, the property outsourcing group, for £750m in January.
- 1 President of Argentina adopts Jewish godson to 'stop him turning into a werewolf'
- 2 Doctors remove 80 teeth from boy's jaw
- 3 The 'Black Museum': After 150 years, public set to see exhibits from police’s grisly crime museum
- 4 Sir Winston Churchill’s family begged him not to convert to Islam, letter reveals
President of Argentina adopts Jewish godson to 'stop him turning into a werewolf'
The 'Black Museum': After 150 years, public set to see exhibits from police’s grisly crime museum
Downfall of Dustin 'Screech' Diamond, the 'Saved By The Bell' star charged with bar stabbing
Syrian teenager Usaid Barho reveals how he escaped from Isis using a suicide vest
Sir Winston Churchill’s family begged him not to convert to Islam, letter reveals
Millions of Britons struggling to feed themselves and facing malnourishment
British actor Idris Elba cannot star as James Bond because he is black, says shock jock Rush Limbaugh
Ukip member gets into Christmas spirit with Union Flag plea to Santa 'for our country back'
Germany anti-Islam protests: 17,000 march on Dresden against 'Islamification of the West'
Nigel Farage: Ukip leader named 'Briton of the year' by The Times
Douglas Carswell tells Ukip to stop blaming foreigners as youth poll shows Nigel Farage is even less popular than Nick Clegg
iJobs Money & Business
Not specified: Selby Jennings: VP/SVP Credit Quant Top tier investment bank i...
Not specified: Selby Jennings: Quantitative Research | Global Equity | New Yor...
Not specified: Selby Jennings: SVP Model Validation This top tiered investment...
Highly Competitive: Selby Jennings: Our client, a leading European Oil trading...