Feature: €600 million fund is boost to wind power
Wind power today (4 December) received a boost after the European Investment Bank and five stated-owned financial institutions agreed to set up a €600 million fund to invest in renewable energy and trans-European energy and transport networks.
The Marguerite Fund, which is part to the EU’s broader Economic Recovery Plan, should culminate in 2011 with a total of €1.5 billion once private investors have also contributed. It is a “catalyst” for investment in climate change and energy security, a joint statement from the investors said.
The six investors – Caisse de Depots et Consignations, Cassa Depositi e Prestiti, KfW, Instituto de Credito Oficial and PKO BP PKOB.WA – have committed €100 million to the fund each.