July 04, 2011
Plenus Expands Into Renewable Energies Market
Plenus, Israel's leading equity-based lending fund has made its first investment in the renewable energies market with a $2 million loan provided to CERAC - Central European Renewable Acquisition Corp., which focuses on wind farm infrastructure in Poland.
CERAC is a fully integrated service provider that works with regional partners based in areas where the local government is explicitly supporting clean energy entrepreneurship. Recently, CERAC has partnered with a leading European Private Equity fund, focused on renewable energies, to jointly operate the Kanin windfarm in Poland, a project valued at €35mm. Two leading European banks have provided additional financing.
Moti Weiss, Plenus General Partner and co-Founder said that "Plenus welcomes the opportunity to enter this exciting new market. The number of wind farms in Europe is rapidly rising, as is in other regions across the globe, due to the fact that the potential of wind energy is five times larger than the global electricty consumption. We plan to make additional investments in this sector."