Investment fund aims to boost renewable sector

The renewable energy fund of Triodos Bank, Triodos Renewables, is to launch a new share issue in the hope of raising £8.5 million to invest directly in renewable energy projects and companies. Returns on the Triodos Renewables last share issue in 2005 averaged of 7% per annum.

Triodos Bank is committed to financing only enterprises creating social, environmental or cultural ‘added value’ and has assets under management of 3.3 billion euros.

The new fund aims to expand the Bank’s current portfolio which includes groundbreaking technologies such as Marine Current Turbines, a tidal energy company and Connective Energy which is developing ways to capture and re-use waste heat from industry.

Former head of Friends of the Earth and current Chairman of Triodos Renewables, Charles Secrett, said:

Big business and politicians talk a lot about tackling climate change but Triodos Renewables is actually doing something about it. The challenges are enormous but these investors, and this company, could be part of a future where our energy needs are met by 100% renewable sources.

[Picture courtesy of rasmithuk]