The renewable power avalanche that is starting to wash over Australia got another kick along with the first corporate scale solar power investment fund being established. As soon as they raise $20M they start operating. Raise $20M, give it a multiplier to on-sale of the projects of 4=$80M for PV at $3/Wp= 27Mwp of PV (if chosen) in the first round.
My prediction is that this sort of fund will suck in major amounts of cash so investments of up to the 500MW quantum over the next five years or so should be readily achieved. Just my baseless feeling though.
First solar energy fund launched in Australia 10 December 2010 The independent Australian advisory and funds management firm, Moss Capital, has launched Australia?s first solar energy fund.
The $100 million Australian Solar Fund will invest in commercial and industrial scale solar power systems, mainly in solar photovoltaic* (PV) power installations.
The Fund will provide fixed-term, fixed-rate loans and preferred equity to Australian solar energy projects where there is long term revenue assurance from blue-chip customers, electricity retailers and local councils.
The new fund will go ahead once investors have committed $20 million.
* The Australian continent has an abundance of sunshine, the raw resource of solar energy. Photovoltaic is literally the generation of electricity through the direct conversion of sunlight.
GOE Price at posting:
12.5¢ Sentiment: Buy Disclosure: Held
