ABN AMRO eyes cleantech companies with new 'Energy Transition Fund'
Netherlands-headed banking major ABN AMRO Bank N.V has recently launched a new investment fund targeting companies and projects in the "energy transition" business. The 'Energy Transition Fund' targets companies and projects in the sectors sustainable energy, energy efficiency, carbon reduction, smart infrastructures and clean mobility, and will make equity capital investments varying from 10 to 25 EUR million per transaction.
The energy transition market is rapidly growing and diversifying. Many businesses are well positioned and ready to take the next step towards further growth. They will not only need loans but in many cases also equity capital. This fund enables us to address that need, commented Rutger van Nouhuijs, CEO ABN AMRO Corporate & Institutional Banking.
ABN AMRO serves clients active in the energy sector all over the world. Supporting the energy transition is one of the bank’s priority areas. Launching the Energy Transition Fund ties in with our ambition and with earlier initiatives such as the Sustainable Finance Desk and programmes aimed at improving the energy efficiency of private and commercial properties.
Over the next few years, the Energy Transition Fund has room to grow to a total volume of over EUR 200 million. The new Fund is primarily aimed at investments in the Netherlands and Northwest Europe. Several renewable energy investments currently handled by ABN AMRO private equity will be transferred to the Fund.