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The private equity firm Terra Firma has joined with the Chinese Development Bank to create a multi-billion dollar renewable energy investment fund. They will start “raising between $3 and $5 billion in the next few months, with China Development Bank to put an as-yet-undefined amount into the fund.”
The move into renewable energy is not new for Terra Firma who already own; Infinis, which collects landfill gas; EverPower, a US wind farm operator; and Rete Rinnovabile, Italy’s leading solar power generator.
Despite the cuts that some governments have made to their renewable energy subsidy schemes, Terra Firm clearly remain confident that the renewable energy sector is going to continue to grow.
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A report from the UN Environment Programme said that the “cuts have not much dented the investment picture overall and global spending on renewable energy reached $257 billion in 2011.”
China Development Bank will focus on attracting investors from China, while Terra Firma will focus on the US and Europe.
By. Joao Peixe of Oilprice.com
Joao is a writer for Oilprice.com