Energy and environment, Cdp Real Asset invests 30 million in the 'Tages Helios Net Zero' fund
This brings to seven the number of investments that the FoF Infrastructure has made in just over a year and a half, for total commitments of around EUR 240 million, more than 70% of the current budget
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Key points
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New investment on the energy front for the Fondo di Fondi Infrastrutture, managed by Cdp Real Asset Sgr. The go-ahead is given for the subscription of shares for a commitment of €30 million in the 'Tages Helios Net Zero' fund, set up and managed by Tages Capital Sgr.
The Fund
The fund aims to support the energy transition in Italy through investments in renewable energy production capacity (photovoltaic and wind power, not only new construction but also through interventions on existing plants, including investments in modernisation/power increase), circular economy (biomethane) as well as storage and recharging systems.
To date, Tages Helios Net Zero has a portfolio of six initiatives including photovoltaic and storage plants with a capacity of approximately 1 gigawatt (including those under development), a portfolio of biomethane projects (both converted from existing biogas plants and to be built) and a project to transition more than 500 filling stations with the introduction of charging centres for electric cars. In addition, further operations corresponding to a capacity of more than 2 gigawatts are in the pipeline. The future investment strategy will also focus on late greenfield initiatives in renewable energy and the energy transition.
Total commitments and investors
.The entry of Tages Helios Net Zero brings to seven the number of investments that FoF Infrastrutture has made in just over a year and a half of operations, for total commitments of approximately EUR 240 million, more than 70% of the current allocation. The portfolio - diversified and balanced in terms of sectors, strategy and instruments of intervention, type of managers, and maturity of the target funds - already includes: Sustainable Securities Fund, Equiter Infrastructure II, Equita Green Impact Fund, EOS Energy Fund II, FIEE Energy Transition Fund III and Green Arrow Infrastructure of the Future.
In parallel with the investment phase, FoF Infrastrutture's financial fundraising phase continues, with the aim of catalysing the resources of institutional investors in favour of projects that have a direct impact on the real economy and the territory.
To date, in addition to Cdp Equity, cornerstone investor and advisor of the fund, the following pension funds are listed as subscribers: Arco (wood sector); Concreto (cement industry); Pegaso (public utilities companies); Previambiente (environmental hygiene and related sectors).
"This new investment confirms the value and uniqueness of the FOF Infrastrutture's intervention model, which aims to build a well-diversified portfolio," emphasises Giancarlo Scotti, CEO of Cdp Real Asset. "An objective that perfectly combines the prospects of adequate financial returns for our investors with the desire to actively support the country's real economy.
"With this new transaction, we are making a significant contribution to the further development of Tages' investment activity in the energy transition," adds Piergiorgio Mandolesi, Head of FoF Infrastructures, "further expanding our portfolio to provide tangible support for sustainable infrastructures, with particular reference to renewable energy sources, storage systems and the circular economy.
